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Some sort of creative epiphany strikes you, and all you are carrying now is an idea, the one that is bound to make heads turn. However, translating your budding idea into a rock-solid business case, you can wrap your head around and present to others, seem distant and subdued.
Traditionally, writing a 50-page business idea would make sense, but not in the modern era when time is less and stakes are high! Also, the conventionally used business plan has some painful limitations that are impossible to ignore if you want to become a good presenter, which I am sure we all aspire to become!
Some common limitations of conventional business plans:
- It is a very linear approach to charting something in continuous iteration; your business and its structure.
- Consummation of it is very challenging and time-consuming both for the reader and for the presenter.
- It is loaded with text, a case that can ‘kill’ and doesn’t work in anybody’s favor.
What you would like is a way that helps you present your business case in an alluring and flexible manner. Isn’t it?
What if we tell you there is a way that is far more superior and promising one. The concept we are referring to here is ‘Business Model Canvas’.
Some of you might have heard of this concept, while for some, the term is as alien as it can be. In this post, we propose and give a thorough explanation of the Business Model Canvas; an approach that has replaced the traditional business plan and for the better! By the end of this post, you will be equipped with an understanding of one-page business canvas and how to utilize it to make your business plan presentations much more intuitive, agile, and fun to play around with!
So, let’s dive in, shall we?
Who and why BMC( Business Model Canvas)
Pioneered by Swiss business author, theorist and consultant Alexander Osterwalder, the business model canvas is a one-page supplement to a full-blown business plan. It acts as a strategic business tool that depicts how a business generates, delivers, and captures value.
Due to its effortless design and layout, the BMC (Business Model Canvas) allows you to present your plans and ideas in a highly visual way, instantly grabbing eye-balls. It is a great tool to test the feasibility of your strategies, and evaluate whether they are adaptable to your business setting or not. Not only this, but it also empowers you to tap every dimension of your business plan and communicate it across.
Now that you have a thorough understanding of who’s and why’s of BMC, let us explore its nine building blocks and how to use them for your own good:
9 Building Blocks:
Let us study the 9 essentials of a business canvas, which together provide a coherent view.
1. Customer Segments
If you are looking to build your brand’s identity that will be cherished for ages, then understanding your customer base is the key. Define your target market and tap it along the way to get into your customers’ heads. This will help in developing a business that is sustainable, competent, and most importantly, loved. Not only this, but it will also enable you to define and fulfill a true need that is of value.
2. Value Proposition
This section seeks to pinpoint your product's exceptional characteristics and how it will be advantageous to a specific customer group. It also defines the needs that are to be satisfied, the problems that need a solution, and what makes your product stand out. Having a thorough knowledge of your customer's needs will help you deliver as per the expectancy and also put your resources to judicious use.
3. Customer Relationships
After figuring out the customer segments and value proposition, another factor that needs your due attention is the kind of customer relationships you develop down the business road. Determine whether your relationships are long-term or a one-time transaction and build them accordingly.
In short, details of anything that concerns the relationship that you have and want to build with your customers goes here in this section.
4. Channels
This segment entails the details about the different channels you will use to find and entice customers. These may be social media platforms like Twitter, Facebook, Instagram, or any other. Try to illustrate all the phases of customer experience across various channels. These touchpoints will give you the power to make a business worthy of all the praise and glory.
5. Revenue Streams
This section is all about presenting answers to the following questions that are of value- How does your business make money? How do you acquire funds? What mode do your customers choose to pay for you? How much price are your customers willing to pay?
The more transparent the answers, the better the outcome. `
6. Key Activities
Now that a goal is set, it is time to make it happen. Analyze your value proposition and highlight the most critical activities. This section will jot down the actionable activities that your business needs to thrive and grow exponentially. Content production, referral programs, product sourcing, and product repair are the few points that go in this section.
7. Key Resources
Key resources refer to the key ingredients that are needed to deliver your value propositions to your customer base. Anything and everything that you include in key activities should also be listed here in this section.
8. Key Partners
Any partnership that is vital to your business setting and its success should be listed in this section. Any business ailments regarding the partnership should be presented here.
Who are your suppliers’? Can you create mutually beneficial relationships with them? Does anybody need to be replaced? Are they able to give you the products that you demand? These are some of the questions that need to be asked and answered via this section.
9. Cost Structure
All the mandatory costs and finances of your business are what this section should show.
That’s a quick run-through of all the 9 building blocks of business model canvas that will help you along the way. You can now stop Googling these new terms and focus on what matters the most- designing great ideas, presenting them proficiently, and channeling your energy towards making it happen!
For inspiration and visual cues, check out the following 5 one-page business canvas templates:
Business Canvas Templates
Template 1
Understanding and portraying your business plan fluently is the biggest feature of this one-page business canvas template. It can be used by any entrepreneur and organization to display the key segments of their business plan. These include a value proposition, key activities, channels, key resources, cost structure, and many more. Showcase what your business stands for and what makes it different from the rest by deploying this readily available single-page layout. In short, everything about your business can be highlighted and neatly presented by utilizing our fully customizable startup business model canvas one-page template.
Download Startup Business Canvas Model One Pager Presentation Report Infographic PPT PDF Document
Template 2
Articulate and explain the 9 building blocks of the business model canvas. This one-page business canvas layout helps you in deconstructing your ideas and presenting them in the form of key assumptions that the viewers can easily interpret. As such explaining your business model in an actionable way is possible. Since this one-pager is adaptable, it enables you to update its design and elements using new data in real-time. It is a highly beneficial set for start-ups no matter at which stage they are.
Download Business Canvas One Page Summary Presentation Report Infographic PPT PDF Document
Template 3
This one-page business canvas template presents a strategic and powerful way to make your audience understand your business plan. This template is a useful one to deploy and use as it encapsulates all the essential elements of a good business canvas model. These include process, people, fixed assets, quality, customers, warehouse, etc. Collaborate with your team and use it to visualize your better much more efficiently by making use of this one-page layout. Since, this template is fully editable, adapt it to your individual business plan with ease.
Template 4
Document the key aspects of your business plan. This one-page business canvas design acts as a blueprint that helps you explain the key facets with ease. It also helps in further planning and building actionable strategies critical to your product and organization’s success. Listed with different aspects like key metrics, revenue streams, customer segments, and many more, you can use this one-pager as per your liking. Fill in the necessary information and address the key concerns by making use of this template design.
Template 5
Streamline the planning, development, and execution of your business plan. Align your business objectives and eliminate incongruencies with this single-page layout. Present your key value proposition and other key facets, such as cost structure, key activities, distribution channels, customer segments, and many more. The biggest advantage of this template is that it is fully editable so that you can adjust all its elements and features like the color, font, size, shapes, and many more.
I hope this guide gave you a thorough understanding of BMC and how it can change your presentation skills. It serves you and the people around you in crafting your business ideas in the most visually attractive way. Just hold on to this spirit of growing fundamentally, and we are sure you will be able to execute some of the most interesting business models out there!
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