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How to Use the Business Model Canvas Framework Detail any and all revenue streams your business plans to support. A flower delivery service may have both a subscription model generating recurring revenue in addition to individual purchases. Revenue models can be things like subscriptions, payments for each purchase, service fees, dividends, and more. These are the ways that your business generates revenue. Typically, your most important costs will be associated with the activities and resources you outlined in the sections above. For a restaurant, this could be payroll, raw ingredients, kitchen equipment rentals, and new furniture for the dining area. You may know these segments as “personas.” Cost StructureĬosts associated with your business activities fit in this section. If you have an event space, for example, you may have a segment of corporate audiences that has very different needs and priorities than wedding planners. Understanding how these segments are unique is critical to your success. Customer SegmentsĬustomer segments are the ways that you define your target customers. These channels are often where you’ll want to invest in marketing. These could include social media, apps developed for your business, radio advertising, and more. In this section, you’ll detail where you communicate with your target customer. A fintech investment app, on the other hand, may aim to support customer relationships via in-app chat with service representatives. In the case of traditional investment advisors, for example, you’ll describe personal phone calls or in-office meetings - a very hands-on service approach focused on relationship-building. This section describes how your business interacts with and maintains relationships with customers. For example, a grocery delivery service could be a fast option for busy students who need snacks as well as a major time-saver for parents who don’t want to bring their children into the store. You may have multiple value propositions for different audiences. It should be directly related to the needs of your customer.
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The value proposition is the problem you intend to solve with your business. While that may sound broad, try to be thoughtful about what resources are most critical to your success and capture those in the canvas. For a bakery, an oven, pastry chef, sugar, and a storefront would all fit this section. Your key resources will include everything from intellectual property to machinery or raw materials. A marketing agency, for example, could specialize in web design, branding, digital marketing, consulting, social media marketing, or combinations of other areas of expertise. The day-to-day things your company does to deliver on your value proposition are your key activities. If your company chooses to outsource shipping activities, for example, the company responsible for order fulfillment would be considered one of your key partners. Your key partners are external teams, technologies, or organizations that contribute to your business model. Launch this template in Gliffy Online > The 9 Components of the Business Model CanvasĮach of the nine sections in the canvas are ways to differentiate yourself from other competitors or think about how your primary activities contribute to your success. Rather than doing this exercise alone, grab some of your most strategic teammates to help! With their input, you’ll be able to focus on what’s most important and capture the right amount of detail. Get Started With a Business Model Canvas Templateįilling out the canvas can be a daunting task at first. Use Gliffy to Capture and Share Ideas Across Your Organization.How to Use the Business Model Canvas Framework.The 9 Components of the Business Model Canvas.Get started with the template below or jump ahead to one of the following sections: That vision is critical if you hope to implement other business frameworks like a balanced scorecard to set and track your goals. It's also a great way to clarify your vision for the organization. You can use the canvas when creating a new business or to strategically evaluate your existing model. A business model canvas is a great way to visualize and describe how your organization creates and captures value.