The business model canvas

In this video, Wiebke will go through the business model canvas. You will learn what the nine different building blocks contain and how you can work with them.

Discussion

Before moving on, how can the business model canvas be helpful for you? Give examples and put your thoughts in the comments section below.

Keywords:

Business model canvas: It’s a canvas that describes the rationale of how an organization creates, delivers and captures value.

Value proposition: All the products and services you offer

Customer segment: Who are your customers

Channels: The avenues through which your customer comes into contact with your business and becomes part of your sales cycle

Customer relationship: How a business interacts with its customers

Key resources: What practical resources are needed to achieve the key activities (actions) of the business?

Key activities: The Key Activities of your business/product are the actions that your business undertakes to achieve the value proposition for your customer

Key partners: Key Partners are a list of other external companies/suppliers/parties you may need to achieve your key activities and deliver value to the customer

Cost structures: Your business cost structure is defined as the monetary cost of operating as a business.

Revenue streams: The way by which your business converts your Value Proposition or solution to the customer’s problem into financial gain