Available languages: EN/ITA
Time needed: 1 day (lesson + workshop)
The Business Model Canvas is a tool that allows participants to represent how they create, catch and deliver the value of their product or service to its customers. It includes 9 elements to consider that are fundamental for the creation or the analysis of a business. Half of these elements are related to the value created and the other half is related to how the value is created and delivered.
Requirements to make the best out of the material
In order to make a logical compilation of the tool, the participant must have clear in mind the business idea and must have done the basic research related to customer needs, to contest, to market and to the competitors.
There is also a logic in the compilation of this tool which is related to the reasoning that the participant must do when designing a new business. Here are the 9 elements in order of the compilation:
- Customer Segments: The target of the business idea. The participant must analyze to whom the business idea is addressed and what are the needs and insights of these target groups to which the idea will respond.
- Value Proposition: The added value of the business idea to its target. Starting from the identified needs and insights in the first step, the participant must define what will be the added value of the business idea for its customer segments, what will remove the pain points and what will create gain. The value proposition will change according to the each customer segment.
- Customer Relationship: The participant must decide what will be the type of relationship and the customer experience that the business idea will create and build with its customer segment.
- Channels. The way to deliver the value proposition the related customer segments. According to different segments of customers, the participant must identify the related channels that can be used to reach those customers, the ways that can be used to transfer the value of the business idea to its customers.
- Key Activities. Based on the whole business idea, the participant must identify all the activities – internal and external – that should be organized and done in order to transfer the value proposition through various channels to its customers.
- Key Resources. Based on the activities designed, the participant must identify all the resources – human and economic – that are needed in order to carry out those activities.
- Key Partners. Based on the resources that are needed to carry out the activities, the participant must identify which of these resources – especially human – will and can be internalized and which others will be searched externally. These external resources will constitute the partners.
- Revenue Streams. The participant must decide what, how and how much the customer segments will be willing to pay for the business idea.
- Cost Structure. The participant must identify the main costs that have to be sustained in order to realize the whole business idea.
The outcome of the first Business Model Canvas created for a business idea will be an ideally designed business model, that eventually, after several tests, trials, feedback and further research, can and will be remodeled.