The business canvas model is a great depiction of what is needed to
transform an idea into a business both internally and externally. It lays
out a straightforward, organized, and structural way to grasp all that
is incorporated in a business. The epicenter of the whole business
canvas framework is value proposition. Value proposition in simplest
terms is the exchange of value amongst customers and your business.
Without the presence of value proposition, why would someone
want to buy your product or service? There needs to be value added
to both parties.
The four segments that would be established immediately are:
1. Value proposition
2. Channels
3. Key activities
4. Key resources
The reasons why I have selected these four segments that would
come immediately is because they are some of the essential parts of
starting a business upfront. Much research and analysis of the market
should be completed to ensure that you as a business owner are
equipped with the necessary tactics to be successful. Value
proposition is pretty self-explanatory because if the main goal of your
business is not to exchange value between you and the customer
than there is no reason for conducting business. a Channels is a major
part of the marketing portion of business and is especially critical at
the beginning of business. This would be done immediately as the
upfront research would be done to see where your company should
spend most efforts marketing in hopes to make the most amount of
people aware of your company as possible. The key activities and
resources are necessary components to the creation of a company. It
is putting the right people in the right roles to achieve the best result
possible. This is really part of the upfront actions as well because
identifying what your goal is, is great, but it is another thing to figure
out what resources and what roles you need filled to get there.
The three things that I think would take some work or time rather is:
1. Key partners
2. Cost structures
3. Revenue Streams
These three segments are ones that would take time to develop and
finalize as you go along. It is important to have a tentative structure
and budget in place to work with, but it is consistently changing.
Determining where your company will allocate their extra revenues
to is a fluctuating process. Cost structure is also something that will
change as the course of time progresses because operations cost is
determined more so on the overall growth or decline of a company.
As far as key partners are concerned, those relationships will develop
stronger and stronger as time goes on and your network expands as
the business grows.
There was not much beyond these nine segments that I haven’t
already considered as there is a lot of different aspects that go into
the business realm. I have had the pleasure of seeing companies
started from the ground up and have seen how far they have come
since then. This process can be very rigorous and challenging, but I
think that the Business Canvas model is a solid framework of the
business world.
