The Business Model Canvas, often known as the BMC model, helps assemble crucial components and aspects of your business model. It offers a snapshot of your current understanding, rather than being a long-term strategic plan.
Using a Business Model Canvas not only helps you pinpoint areas for knowledge improvement but also underscores what is essential to focus on in the near future. The model enables visualizing and creatively exploring your business model.
Creating diverse versions of a Business Model Canvas (BMC) effortlessly enables you to demonstrate the impact of a proposed business model on different aspects of business development. Varied customer segments or revenue models may affect your costs or partnerships in distinct ways. Instead of navigating through numerous business plans or adjusting endless documents, maintain flexibility and openness to input from the external environment, customers, partners, trends, and more.
When working collaboratively, the BMC model proves to be an excellent tool for fostering a shared understanding of the work. It also provides support in mapping out various crucial areas.
– Customer problems Your solution to the problem (i.e., your product/service)
– Benefits of the solution
– Your competitors
– Are additional societal values or values for other stakeholders achieved?
– Does it address any societal problems?
– Divide your customers into segments or suitable groupings.
– Now you can tailor your product/service to each target audience and prioritize between groups.
– Are the customer segments inclusive and free from discrimination?
– Describe how you will sell your offer to your customer groups.
– E.g., through online commerce, retailers, or direct sales.
– Are there more environmentally friendly alternatives?
– Describe how you will interact with your customers, e.g., through support or service.
– Is communication ethical and transparent?
– Describe how you will charge for your products or services.
– Include social and environmental benefits as well.
– Describe the most important activities for your venture – it could be launching, hiring, technological development, and patents.
– Can these be done in a more sustainable way?
– Are they acquired in an ethically defensible manner?
– Describe the resources needed. That is, manpower and capital to carry out your activities.
– Describe the external partners required to implement your plan.
– Do you share the same values regarding sustainability?
– The business will generate costs. Describe the main cost areas, e.g., personnel, technological development, and patents.
– Include social costs and environmental costs as well.
In our business development activities at Science Park, the BMC model stands out as one of our go-to tools. If you’d like to apply the model to your idea or business with our guidance, feel free to schedule a meeting – we’ll be in touch soon.