How to develop a Business model

 

photo credit: innovationmanagement.se

 

As a start-up, you can understand your business more by developing a business model.

“A business model describes the rationale of how an organization creates, delivers and captures value” – Alexander Osterwalder, Business Model Canvas.

You can develop a business model using a lean canvas/business model canvas.

For “brand new start-ups”, I recommend the lean canvas but if you have been running a business for a while and have been able to attain a level of consistency (with revenue,operations,profit) , I recommend you develop a business model to position the business for significant growth.

Lean canvas /business model canvas helps you clearly identify your product(s) and target audience, allows you easily assess uncertainties and risks involved in your business and helps you choose position in the market place.

Over 9 weeks, the 9 basic building blocks of a business model canvas will be treated.

Find the template below and fill in as go

Together these 9 elements provide a coherent view of a business’ key drivers

The first element – Customer segment will be discussed in next Mondays post…..