In our first class we talked about “Takin’ Care of Business” using the Business Model Canvas from the Business Model Generation.
Models:
- give us ways to experiment
- give us ways to predict the future
- and are simplified representation of reality
It broke down the Business Modeling using the 9 key building blocks:
1. Value Proposition – What is my business product
2. Customer Segments – Who is the product for
3. Costumer Relationships – How do we relate to our Customers
4. Channels - How am I getting them the product
5. Key Recourses - What do we need do to make that product/service
6. Key Activities - What do we have to do to make that product/service
7. Partner Network – Who do we partner with and how
8. Cost Structure - What are we getting for this product
9. Revenue Stream – How will we make money
We were told to do two Business Canvases. I chose to one for a fitness gym and the other for a wedding consulting business.
For the gym, I tried to apply my knowledge from being a customer of a gym and trying to understand what I thought they may need.
For the wedding planner, I remembered some of the things that I experienced while working with a wedding planning company.
