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The Business Model
The Business Model
startup concept. It allows you to visually map out the key elements of your business model.
Here's a guide to help you complete a BMC for your startup concept:
Customer Segments:
Identify the specific groups of customers or market segments you plan to target.
Value Proposition:
Define the unique value your product or service offers to the customer segments.
Identify the problems or needs you are addressing and how your solution solves them.
Determine the key benefits and features that differentiate your offering.
Channels:
Identify the channels through which you will reach and interact with your customers.
Consider both physical and digital channels, such as online platforms, direct sales, distributors,
or partnerships.
Customer Relationships:
Determine the types of relationships you will establish with your customers.
Consider whether you will focus on personal relationships, self-service, automated support, or
community-building.
Revenue Streams:
Identify the pricing model (e.g., one-time purchase, subscription, freemium) and revenue
sources (e.g., product sales, licensing, advertising).
Key Resources:
Identify the critical resources your business requires to deliver your value proposition.
Consider physical assets (e.g., equipment, facilities), intellectual property, human resources, or
strategic partnerships.
Key Activities:
Determine the key activities necessary to deliver your value proposition and generate revenue.
Identify the core processes, production, marketing, distribution, or customer support activities
required for your business to operate.
Key Partnerships:
Identify the key external partners or suppliers that contribute to your business model.
Cost Structure:
Identify the key cost drivers and the most significant expenses, such as production costs,
marketing expenses, or overhead costs.