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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.

Try to determine what needs or problems your product or service addresses.

 What value does it create?


 What are you actually giving your customers?
 What are the features of your product?
 What are the advantages of your offering?
CUSTOMERS SEGMENTS

Customer segments represent the different groups of individuals targeted by your business.Ask
yourself these questions to identify your customers:

 Who do you create value for?


 Who are your target customers or customer segments?
 Who are your biggest customers?
 What are their needs?
 What problems do they have?
 What is their profile?

Your offering is closely related to 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:

 How do you reach your customers?


 What channels do you use to distribute your products or services?
 What channels do you use to communicate with your customers?

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:

 How would you describe your relationship with your customers?


 What type of relationship do your customers want?
 How can you attract these customers or increase their loyalty?

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:

 What do you need in order to deliver on your value proposition?


 What resources are essential?
KEY ACTIVITIES

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:

 What activities are key to delivering on your value proposition?

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:

 Who are your most important partners and suppliers?


 Which partners help you carry out activities that you do not perform in-house?
 Which partners provide you with the resources that you don't have in-house?

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:

 Where do your revenues come from?


 How do your customers pay?
 How do they prefer to pay?
 What are your most profitable products or services?

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?

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