The Business Model Canvas (BMC) is a tool to help a new or existing business develop their business idea. It is a snapshot of your business, encompassing elements of the business plan in a visual way. The canvas helps you and others understand your business and the value it provides. Use the following worksheet to complete your Business Model Canvas. Start with the value proposition in the middle and work your way clockwise answering the following questions.
VALUE PROPOSITION
What does your business do that adds value to the customers? What is the problem that your business solves? What makes you unique compared with businesses who may be providing a similar product or service?
CUSTOMER SEGMENTS
Identify your target market(s). Who is your average customer and what are their demographics (age, gender, income levels, etc.) and psychographics (attitudes, beliefs, etc.)
CUSTOMER RELATIONSHIPS
How are you developing, maintaining, and capturing your client relationships?
DISTRIBUTION CHANNELS
How does your product or service get to the client? (method of delivery, location, etc.)
REVENUE STREAMS
How does your business generate business revenue? Describe your product/service lines.
COST STRUCTURE
What are your expenses, costs, and profit margins? (doesn’t have to be exact amounts)
KEY PARTNERS
Identify the people and organizations you will need to work with to be successful.
KEY ACTIVITIES
What are the more important tasks that you need to do for your business?
KEY RESOURCES
What is your business’s more important resources? Identify the tangible and intangible assets, ideas, connections, resources that are crucial to your success.
VALUE PROPOSITION
What does your business do that adds value to the customers? What is the problem that your business solves? What makes you unique compared with businesses who may be providing a similar product or service?
CUSTOMER SEGMENTS
Identify your target market(s). Who is your average customer and what are their demographics (age, gender, income levels, etc.) and psychographics (attitudes, beliefs, etc.)
CUSTOMER RELATIONSHIPS
How are you developing, maintaining, and capturing your client relationships?
DISTRIBUTION CHANNELS
How does your product or service get to the client? (method of delivery, location, etc.)
REVENUE STREAMS
How does your business generate business revenue? Describe your product/service lines.
COST STRUCTURE
What are your expenses, costs, and profit margins? (doesn’t have to be exact amounts)
KEY PARTNERS
Identify the people and organisations you will need to work with to be successful.
KEY ACTIVITIES
What are the more important tasks that you need to do for your business?
KEY RESOURCES
What is your business’s more important resources? Identify the tangible and intangible assets, ideas, connections, resources that are crucial to your success.
After you are happy with your Business Model Canvas and feel confident in the Idea. You can follow the typical outline below for establishing and developing your business plan.
© 2024 Thunder Bay CEDC | Developed by Firedog Communications