ALL ABOUT A

BUSINESS
MODEL CANVAS
AND HOW TO
USE IT

A Business model canvas

helps you map out your
business and the areas that
you need to cover to help
your business become a
success.
Let's get started...
Hi, I'm so glad you are here because that means you are ready to start
working on your business, but before we begin let me introduce myself.

I'm Nicole Higgins founder of The Buyer and Retail Coach.

I have 18 years experience in buying , developing and sourcing product

from all over the world for some of the top companies and I now help
entrepreneurs make their product ideas a reality and I also work with
corporate businesses on special projects increasing their sales and
profit. You may have seen me sharing my expertise in several
publications or trade fairs.

If you are looking for more resources and tips check out my website
www.thebuyerandretailcoach.com and follow me on instagram
@thebuyerandretailcoach.

info@thebuyerandretailcoach.com
 www.thebuyerandretailcoach.com
 What is a business
model canvas  

It will help you map out insights about the customers you
wish to serve with your product and what value you can offer.

It will help you understand your

business more and what areas you
need to explore in greater depth
and work on to fine tune.

You can also use this when looking at competitors to see how
your product/service differs to theirs and what you can learn
from them and also, how you can differentiate yourself when
selling your product to customers/buyers.
 nine building blocks
01 Key Partners
This is where you need to think:-
Who are your Key Suppliers?
What are the key partnerships you need for your business to succeed?
Think about why and how you work with these partners and how they benefit you and how
you benefit them.
Some things to consider would be how do they reduce risk and uncertainty?
What resources are you getting from the partners?
What key activities do these partners perform?

02 Key Activities

What key activities do your value propositions need? A value proposition is the promise to
the customer of how value (benefit) will be delivered, experienced and acquired.
Here you might think about production of your product, distribution, your customer
relationships, your online platform.

03 Value Propositions

What value or benefit do you/your product deliver to the customer?

What problem are you helping to solve?
What bundles of product are you offering to the customer?
What needs are you satisfying?
Some things to consider: Newness, Performance, Customisation, Design, Brand/Status,
Price, Accessibility, Convenience

04 Key Resources

What do each of your value propositions require?

So to achieve your benefits and for the customer to see the value/benefit in your product,
what do you need to do?
Think about distribution channels, the physical products, staffing, finance, patents.

05 Customer Relationships

What type of relationship does each of our customer segments expect us to establish and
maintain?
How are they integrated with the rest of our business model?
How costly are they?
Think about communities that you have created.
Think about are you the face of your brand or product.
Does the customer want that personal touch when dealing with your product?
 06 Customer Segments

Who are we creating value for? (benefit/product)

Is this a niche or mass market?
Can your product/service diversify?

07 Channels

How and where do your customers want to be reached?

How are you reaching them now?
How are the channels integrated?
Which route works best?
Which is the most cost-effective?
How are you integrating these with your customer routines?
Think about the following steps when setting up your channels:-
Awareness - How to raise awareness of your company's products/services
Evaluation - How to help customers understand and appreciate the value/benefit of your
product/service
Purchase - How do you allow customers to purchase the product/service?
Delivery - How do you deliver the products?
After-sales - How do you provide after-sales service post-purchase?

08 Cost Structure

What are the most important costs in your business?

What key resources are the most expensive?
What key activities are the most expensive?
What return do the resources and activities give you?
How much are you planning to spend on getting the product to market?

09 Revenue Streams

For what value/benefit are the customers really prepared to pay?

What do they currently pay?
How are they paying?
How would they prefer to pay?
How much does each revenue stream contribute to overall income

Types of Revenue

Lending/Fees/Renting Product Feature Dependent

Advertising (e.g. Affiliate Income Customer Segment
Subscription Fees Volume Dependent
Fixed Pricing Negotiation (Bargaining)
List Price