After reading about the business model canvas I started to think
about many aspects I had not thought through before. I think that
immediately I could complete the value proposition, customer
segments, customer relationships, and key activities/resources. These
segments are quick and to the point and honestly, if you can't answer
them right away, then you might need to consider a new idea.
Knowing your product/service value and who you are marketing to is
very important in the initial steps. The segments that might need
more time would be the channels, key partners, cost structures, and
revenue streams. Monetarily, it can be difficult to immediately know
and this aspect could take a lot of research and time before knowing
exactly how much your product or service will cost and how the
revenue will come in for it. Finding key partners and deciding how
you want to channel your product/service can also require research
and trial/error. a My service for this project is actually just an addition
to a company's current app, therefore I hadn't really thought about
cost structures, partners, or revenue streams. I'm not sure how app
updates work internally for businesses so I will need to look that up
and see how they handle costs for it.
Resources:
Ebinum. (2016).
How To: Business Model Canvas Explained
. Medium.
https://medium.com/seed-digital/how-to-business-model-canvas-
explained-ad3676b6fe4a
