I Have an IDEA?
Entrepreneur: someone who sees a problem as an opportunity, who creates solutions using resources & innovation
Does it solve a problem, fill a need, or bring useful information to a user’s fingertips?
The canvas - A Blank Space
What?
The canvas -
What?
What?
The canvas -
What?
The business model canvas
What’s your offer? What is compelling about the proposition?
Value Proposition What is unique? Why would the customer prefer yours? What things do you do that actually cause a customer to pick you over a competitor or alternative? Write down all you can think of – RANK THEM
Who’s your customer? What do they think? See? Feel? Do?
Customer Segments Who is / are the personas? What do they think, see, feel and do in your product area? List buyer & users? *Have more than one – recommend prioritizing them.
How do you reach your customers?
Channel How do you communicate with your segments? How do you sell to your segments? Different segments might have different channels?
What’s your relationship to the customer? What’s your image?
Customer Relationships How does the customer interact with you through the sales and product lifecycle?
Test questions Can the value prop be delivered to the customer this way – all the way through from promotion, to sale, to post-sale service? Can you make the numbers work?
What are you core activities and processes?
Activities Crucial things the business needs to deliver on it’s propositions and make the rest of the business work. List activities linked to the Value Prop.
Make sure these are CORE to the focal point of the business.
What are your main assets and competencies ?
Resources The strategic assets you need in place or you need in place to a greater or more targeted degree than your competitors. Three core business types: • Product – key talent? • Scope - knowledge? • Infrastructure – physical? Link to your Key Activities.
Who are your main supplier s, partners and alliance s?
Partnerships? What’s outside of your business type? Could partners do some of those activities? Why? Which? Note their relationships to Key Activities
What is driving cost?
Cost Expenses directly related with producing or making a product or service
Are they fixed or variable? To design a custom engagement ring: • Cost of CAD design • Cost of Material • Stones • Metals • Cost of Labor • Appraisal Cost
Tiffany & Co., in Lexington, produces the classic sixpronged engagement ring and other pieces of fine jewelry.
How do you make money?
$$$$$$ Map your segments to proposition to revenue streams. IE: Revenue stream 1 is driven by Persona 1’s involvement with Propositions 1 & 2 Do you have more than ONE way to make money?
Describe your business in one sentence
This is how it’s done: “my company, _(insert name of company)___, is developing _(a defined offering)___ to help _(a defined audience)______ (solve a problem)____ with _(secret sauce)_________�.
Exe rcis e