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Business model canvas
Taking a holistic view of your business can help you make strategic decisions. This activity will help you describe your business as it is today and evaluate what could change for the better.
Activity
Estimated time: 45m
Note: The video uses brightly colored animated illustrations. Upbeat background music plays.
On screen: A small business owner works on a desktop computer in her office. She types on a keyboard and moves a computer mouse.
On screen: Reading Your Business Model Canvas.
Note: An unseen announcer provides narration.
Announcer: Want to make better strategic decisions for your business? The Business Model Canvas can help.
On screen: An aerial view of the office shows the Business Model Canvas list of nine elements written on individual floor tiles. As the business owner swerves her chair around the office, different tiles become highlighted.
On screen: 'My Business Model Canvas:'
- Partners.
- Activities.
- Value propositions.
- Customer relationships.
- Customer segments.
- Resources.
- Channels.
- Cost structure.
- Revenue streams.
Announcer: This simple tool is made up of nine fundamental elements - customer segments, relationships and channels, key partners, activities, and resources. Your cost structure and revenue streams and, at the heart of the canvas, your value propositions.
On screen: 'The Business owner's "Business Model Canvas" shows eight of the nine important segments filled in with headings and bullet points. Her "Partners" segment is filled in to show:'
- Top partners and/or suppliers are venues and entertainment companies;
- Key resources acquired are service providers who offer complementary services;
- Vital activities include community organization.
- A Value proposition is customer interaction;
- Distribution channels include community service days, and a craft fair;
- Customer relationships involve customer interaction.
- Delivered value is connecting people to each other and a world of ideas;
- Met customer needs includes a chance to have fun, be part of the community and do good.
- Products (and/or) services offered to each customer segment includes entry into the arts and entertainment world of the city.
- Customer segments expect high-touch service;
- (Information about established expectations is not filled in);
- Customer relationships cost indicates that customer care is a significant cost.
- Created value for affluent people who want to do good;
- Most important customers are civic-minded women.
- A value proposition requirement is entertainment;
- A distribution channel requirement is ticket sales;
- A customer relationship requirement is community relationships.
- Of customer-preferred channels, customers respond most to email;
- The current channel website provides basic information;
- Most effective are phone calls, which drive biggest sales and reservations.
- Customers are willing to pay top dollar for major events;
- (The bullet point for the heading, "Paying customers feel they get…" is not filled in);
- The current customer payment method is primarily in-person or by phone (credit card, cash, or check);
- Preferred customer payment method is that many customers ask for online payment options.
Announcer: By filling in and comparing these sections, you can quickly assess your business model and check to see if there are any disconnects that need fixing.
On screen: Distribution channel doesn't provide an expected value from revenue.
On screen: Two pieces of information from the Business Model Canvas are highlighted. "Craft fairs" gets connected to "Paying customers feel they get…" The latter is updated to read, "Paying customers feel they get prestige and access to other elites."
On screen: Expectations and important customers don't match.
On screen: 'Two more pieces of information from the Business Model Canvas are highlighted. "Established Expectations – A curated experience" gets connected to a new bullet point under "Most important customer." The new bullet point reads: "Retired professional who expect low cost."'
On screen: Room to improve methods.
On screen: Two more pieces of information from the Business Model Canvas are highlighted. "The current customer payment method is primarily in-person or by phone (credit card, cash, or check)" gets connected with "Preferred customer payment method is that many customers ask for online payment options."
Announcer: Much simpler than a traditional business plan, the Business Model Canvas can be your roadmap to success.
On screen: "The business owner's desktop monitor displays a webpage labeled "Business Model Canvas." It reads: "Your next-level business. Taking a holistic view of your business can help you make strategic decisions. This activity will help you describe your business as it is today and evaluate what could change for the better." The page's first activity is titled "Partners" and it shows a series of questions with fillable fields in which to answer. Next, the computer monitor displays a graph showing a significant rise in sales."
On screen: Chase for Business (registered trademark.)
Logo: The Chase octagon symbol.
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