It seems like there are a million things you have to take care of before you can earn your first dollar/euro.
You need to register your business, set up your website, calculate your budget, create your marketing plan, test your products, and build good relationships with your manufacturers and suppliers.
You also need to create your business plan and your business list of ghana whatsapp phone numbers model. Lots to do, right?
You already know what a business plan is . It’s your step-by-step guide to how your company will achieve its goals. What you may not fully understand is your business model.
A business model is simply a design for successfully operating a business. It's how you create value for yourself (e.g., making money) while delivering products or services to your customers.
There are numerous types of business models, and all of them can be mapped onto a physical graph called a “business model CANVAS.”
The Business Model Canvas (BMC) was originally developed by Alex Osterwalder and Yves Pigneur, and presented in their seminal 2010 book ' Business Model Generation ' as a visual framework for designing, developing and testing an organization's business models.
Whether you're just starting out or already well on your way, you need to have real clarity about your business model so you can design it for success.
Traditionally, the first thing an entrepreneur was “expected” to do was to create a business plan that outlined key opportunities, activities, and strategies , as well as initial financial projections for the business.
Invariably, it is very likely that while you are starting with your plan, the market is moving at such a speed that the reality of the market has already changed.
A problem that has been exacerbated over time as the pace of business has accelerated.
For many, the mere prospect of having to create a business plan in the first place can be such an overwhelming and intimidating task that it will become an excuse to put off starting the business.
The concept of the Canvas is to provide a simple, intuitive and flexible tool that can be developed rapidly and continuously applied to iterate and update business strategy.
In a single page view, the BMC provides an overview of the business: its offering, infrastructure, market and finances.
Canvas Model
The business model canvas CANVAS
The business model canvas is broken down into nine (9) building blocks for your customers. We will break down each of those segments so you can better understand what each of them means for your business.
#1 – Value propositions
The first section is about your value proposition.
Your value proposition is what your company is doing and who you are doing it for. It’s not about your specific idea or product, it’s about solving a problem or fulfilling a need . It’s also about who you are solving that problem for.
Once you know what problem you're solving and who you're solving it for, you can get into what exactly your product or service is.
This is where you list all the benefits and features of your product and what it does to solve the problem.
#2 – Customer Segments
Perhaps the most important part of your canvas is your customer segments.
If you don't know who your business serves, you'll never be able to sell to them. You need to find out who your customers are and why they would buy from you.
You want to be very specific and find out where your customer lives, what their social habits are, how old they are, whether they are male or female, etc.
You want to be so detailed that you could draw a picture of your client, put it on a wall and make sure every last detail of that exact person is displayed.
On day one, this is just a hypothesis, but as you start testing and selling your products, you can change this accordingly.
# 3 – Channels
Your channels are what you use to deliver your product from your business to your customer. In the old days you really only had one channel and that was the physical channel. You had a store and your goal was to get people to visit your store.
With the rise of technology, a store is no longer necessary.
Nowadays, many people use the internet and mobile devices as their channels. Even if you have a physical channel setup, chances are you still have a web presence.
You need to decide which outlet or outlets are best for getting your product to the customer.
