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Business Model Canvas:

The Business Model Canvas (BMC) is a strategic management tool to quickly and easily define and communicate a business idea or concept.

It is a one page document which works through the fundamental elements of a business or product, structuring an idea in a coherent way.

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An example of a Business Model Canvas(Template)

Elements of Business Model Canvas

  • Customer Segments - This helps with understanding of the target group for your product.

  • Value Proposition - This helps with the assessment of your product's offerings and your competitors in the market.

  • Revenue Streams - This helps with the revenue that a product generates from the customer segment.

  • Channels - This helps with the identification of touchpoints of the customer segment with your product.

  • Customer Relationships - This helps with building and maintaining a good relationship with your customers by providing the features they need.

  • Key Activities - This helps you with the critical activities associated with your product.

  • Key Resource - This helps you with the required resources to run your business, such as people, knowledge, and money.

  • Key Partners - This helps you with the valuable partnerships you can create to run a successful business.

  • Cost Structure - This helps you with the identification of segments as per their cost structure, such as sales, marketing, operations, and human resources.

Value Proposition Canvas:

When it comes time to really understand your customers, including their jobs to be done, pain points, gains, as well as your offer to them, the value proposition canvas is one of the best tools available to help you regard in this regrad.

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An example of a Value Proposition Canvas(Template)

Elements of Value Proposition Canvas

  • Products and services - This helps you to list down your product offerings to the customer.

  • Gain Creators - This helps you provide ideas to fulfil the goals and expectations of customers.

  • Pain Relievers - This helps you provide ideas to relieve the pain points of customers.

  • Customer Jobs - This is the customer persona that helps in understanding consumers background and behaviour.

  • Customer Gains - This helps with assessing the goals and expectations of the customers associated with your products and services.

  • Customer Pains - This helps with determining the pain points of the customers associated with your products and services.

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