WHAT IS A BUSINESS MODEL CANVAS?(BMC)

A business model canvas is an entrepreneur tool that enables you to have an overview of some key features of a particular product/idea. As an entrepreneur, having a business model canvas shows some level of seriousness in your work. The BMC will make someone understand your business model with ease. We would talk about some of the key features you would find in a comprehensive BMC. Read more after the cut...

Key Resources
Here, you would highlight the key resources your business needs to thrive, such example is computers, human resources, delivery and logistics systems etc. Clearly list out resources that are like oxygen to your business.

Key Partners

Who are the people that will complement your business? Every business has one partner or the order. No man is an island, no business is an island too. You need some support. List out those who you will partner with to build your business, also briefly highlight the scope of their work along.

Key Activities

What action steps do you need to take to set the ball rolling?

Value Proposition
What value are you offering to your proposed customers? What will attract them to you and nobody else? How are you solving their problem?

Customer Segment

What is your target customer segment? Who are the people you will be proposing your values to?

Customer Relationship

This would talk about the kind of relationship you plan on having with your customers, how would you communicate with them? What kind of assistance would you be offering to them?

Channels

How do you intend to reach out to your customers? Would it be online? Would it be via cold calls? Etc.

Revenue Streams

You are not into business for charity are you? In what ways do you intend to make money?

Cost Structure

This is about ascertaining clearly the most important costs involved in the business, the costs you will have to incur to atleast roll a minimum viable product out.

You could be creative and work on a good template for yours. If you have been able to talk about these few topics, you should be fine.