Business Model Canvas Flashcards
What is the Business Model Canvas?
The business model canvas is a blank template on which to explore your business ideas. It provides an initial first analysis of your idea and tackles the main cause of project failure: lack of focus on the user.
Why use the Business Model Canvas?
The model stays lean not over committing on a project that may fail.
This allows for a dynamic approach to development and views projects as scientific experiments.
What are the nine building blocks of the canvas?
Customer segments, Value Proposition, channels, customer relationship, revenue streams, key resources, key activities, key partnerships, and cost structure.
What happens in the Customer Segments block?
Finding out who the product is for, what market is being targeted.
What happens in the Value Proposition block?
What is the Unique Selling Point of the product.
This USP could be a new feature, better performance or targets a more niche market.
What happens in the Channel block?
How will our target customers become aware of our value proposition, directly or via wholesalers
What happens in the Revenue Stream block?
Finds the aspect of our value proposition that customers will pay for
What happens in the key resources block?
Finds out what assets are needed to develop the product
What happens in the key activities block?
What’s needed to make the software successful, needs to reach customer segments
What happens in the key partnerships block?
Putting available alliances and partnerships with other business or suppliers here, to better gain knowledge
What is in the cost structure block?
Where are the costs?
