The nine segments of the business model canvas are extremely
important to any business that wants and needs to thrive.
“There are nine building blocks that describe and assess a business
model: customer segments, value propositions, channels, customer
relationships, revenue streams, key resources, key activities, key
partnerships, and cost structure” (Black, Gardner, Pierce & Steers,
2019).
One of the most important segments is the Customer Segments, which
can be completed right away as this is going to consider the customers
which is going to be the mainstream of revenue for any business. This
should be completed right away, as it answers a major question of "who
the product is for?". If you don't have any idea who you are creating a
product for, then the product should not be on the market at all.
Thinking of the target market is one of the first responsibilities of a
business, because that is the place where your revenue comes from.
Customer Relationships in my opinion is a segment that will take more
time and energy to complete, because building a relationship with the
customer is not an overnight task that can be completed in a
conference room like figuring out who the customers are. Relationships
take multiple visits as well as the right personality so that you can build
a bond with your customers so that they feel like they are at home with
family.
Black, S., Gardner, D. G., Pierce, J. L., & Steers, R. (2019, February 27).
Business model canvas
. Organizational Behavior. Retrieved May 20,
2022, from
https://opentextbc.ca/organizationalbehavioropenstax/chapter/busi
ness-model-
canvas/#:~:text=There%20are%20nine%20building%20blocks,depict
s%20the%20business%20model%20canvas.
