Business Model Canvas

Business model canvas is a great method to help you take into account and better understand a business model and functioning principles of a for-profit company in a structured way while focusing you on the key areas to address.

What can you do?
Try to understand the company (which provided your challenge) and its perspective. Get familiar with its current business functioning by identifying the key characteristics of its business model. Think about each aspect in the recommended order and try to answer belonging questions:

• CUSTOMER SEGMENTS – Who are your company’s costumers? Is it people or companies? What kind of people or companies?
  Segment the costumers based on similarities.
• VALUE PROPOSITION – What is company’s product or service? What does the company offer costumers? What is its special value
  – is it the price, the speed, costumer experience, design…?
• COSTUMER RELATIONSHIPS – What type of relationship does the company have with each of its costumer segments? How does it
  interact with them? How does it maintain the relationship? Is it in person, through third party, automated services…
• CHANNELS – What are the touchpoints where costumers come into contact with company’s business/product/service? How do
  they deliver the value proposition? Is it social media, public speaking, webiste, advertising, email…?
• REVENUE STREAMS – How does the company convert its value proposition (product/service) into financial gain? How does it earn
  revenue? Is it subscription fee, usage fee, licensing… or just free services?
• KEY ACTIVITIES – What are the tasks and actions that company must make for its business to work? What activities does the
  company have to undertake in achieving the value proposition, generating revenue, reaching costumer segments and
  maintaining costumer relationships?
• KEY RESOURCES – What resources (people, knowledge, equipment, copyright, money…) are needed to achieve the key activities
  of the company’s business?
• KEY PARTNERS – Which external partners (companies or suppliers) does the company need to perform its key activities and
  achieve the value proposition?
• COST STRUCTURE – What are company’s (top) costs of its business/product/service? How much does it cost to fulfill the key
  activities and achieve value proposotion? Are there any additional costs?

You may need to pause your activity and get more information, which is completely fine.

More information about business model canvas here, here, and here for example.