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A clear vision of your business in 9 blocks
A clear vision of your business in 9 blocks
VALUE PROPOSITIONS
Your value proposition is your product's value added as seen through your customers' eyes.
Customer segments represent the different groups of individuals targeted by your business.Ask
yourself these questions to identify your customers:
Look again at the questions about your value proposition and analyze its impact on your
customer segments. This will help you establish a solid link between the two blocks on the
canvas.
CHANNELS
The next step is to decide on effective communication and distribution channels for your
business.
Bearing in mind the different channels that businesses can use (including websites, online stores,
bricks-and-mortar stores and warehouses), answer these questions:
Remember that the channels you use must be consistent with your value proposition and
customer segments, as defined in the two previous blocks.
CUSTOMERS RELATIONSHIPS
You've identified your customers, thanks to the Customer Segments block. Now it's time to
define the kind of relationship and service that will suit them best.
For example, some products and services require personalized service, while automated service
works better for others. Decide what's best for your business by answering these questions:
After modelling your business's relationships with customers, look again at your distribution
channels to make sure that they are appropriate.
KEY RESOURCES
Key resources are all the assets that help keep your business running smoothly.
These resources are manifold and may include staff, tools, property, permits, patents, know-how,
experience and reputation. Identify your business's resources by answering these questions:
Your key activities help you deliver your value proposition and bring your product or service to
market. They also make your business more competitive.
For example, a manufacturer might stand out from the competition not only for its products, but
also for coming up with a new production method. Similarly, a professional firm could set itself
apart by creating and patenting a new problem-resolution method. Ask yourself:
Your key activities are dependent in large part on your key resources. Take another look at the
previous block to make sure that it is clearly linked to your activities.
KEY PARTNERS
Setting up your business and keeping it profitable will require you to work with suppliers,
subcontractors, distributors and other partners who are essential to delivering on your value
proposition.
Bearing in mind that partnerships come in a variety of different forms (for example, you might
form a strategic alliance with a competitor or launch a business with one of your suppliers), ask
yourself these questions:
Remember that a good partnership brings many benefits, including maximizing profits and
reducing risks.
REVENUE STREAMS
Revenue streams are a key component of the business model, for both your business and your
investors.
Whether your revenues come from fees, contract agreements, subscription agreements,
rental/leasing agreements or licensing agreements, it's important to set prices according to what
your customers are willing to pay for your product or service. Ask yourself these questions:
COSTS STRUCTURES
Businesses face a number of different costs. These may concern resources, employees, training,
and relations with partners, distribution, operations or taxes.
It is in your interest to be familiar with the costs you face and to find an innovative structure that
means you do not depend on resources and activities that eat into your profits. Ask yourself these
questions:
What is the cost of your key activities and key resources (fixed and variable)?
What are the costliest aspects of your business model?