Develop your business model using the Business Model Canvas method
Business Model Canvas indicates the various components that have to be in place for you to succeed in realising your proposed solution (the prototype). Even if you only have one prototype, you should still evaluate how the prototype may be realised, and which components have an impact on potential realisation.
Below is a video in which the creator of Business Model Canvas, Alexander Osterwalder, explains its contents. In the video, Osterwalder describes the two main parts of the canvas. The right-hand side focuses on the target group (the customer segment), the value proposition, channels, customer relationships and revenues. It focuses on how we create value, and who we create value for. How do we deliver value, and how do we ensure value for the business?
Target group
Who do you want to create value for? Is it a group of people and/or a business you want to create value for? What problems do you want to solve for them?
Value propositions
What values do we offer our customers? What problems are we solving for customers? What do we want to deliver?
Channels
How do we distribute the solution? How do we make the solution available to the customer in a simple and intelligible way? Through which channels does the customer want to be reached (online, mobile, telephone, meeting, etc.)?
Customer relationships
How do we convince customers that they need these solutions? How do we establish and maintain relationships with the customer over time?
Revenue streams
How can the solution create new revenue streams? How does it capture value for the business?
The left-hand side focuses on key resources, key activities, key partners and costs.
Key resources
What are the most important resources that you have available and which enable you to deliver the value proposition time and again?
Key activities
What activities enable the business to deliver the value proposition to customers time and again?
Key partners
Who are your most important partners, and what resources and activities do they contribute?
Cost structure
What costs do you envisage the solution incurring?
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