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The Business Model Canvas - 9 Steps to Creating a Successful Business Model - Startup Tips

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The Business Model Canvas - 9 Steps to Creating a Successful Business Model - Startup Tips The Business Model Canvas, is a strategic management and entrepreneurial tool. It allows you to describe, design, challenge, invent, and pivot your business model. The Business Model Canvas is comprised of 9 key segments: The left hand section of the Business Model Canvas is the Infrastructure section and comprises three key areas: Key Activities: The most important activities in executing a company's value proposition. Key Resources: The resources that are necessary to create value for the customer. Partner Network: In order to optimize operations and reduce risks of a business model, organization usually cultivate buyer-supplier relationships so they can focus on their core activity. The middle section of the canvas describes the business offering and is the value proposition delivered to different customer segments. Value Propositions: The collection of products and services a business offers to meet the needs of its customers. According to Osterwalder, (2004), a company's value proposition is what distinguishes itself from its competitors. The value proposition provides value through various elements such as newness, performance, customization, "getting the job done", design, brand/status, price, cost reduction, risk reduction, accessibility, and convenience/usability. The value propositions may be: Quantitative – price and efficiency Qualitative – overall customer experience and outcome The right hand side of the Business Model Canvas describes the customers, the channels through which you deliver services and and the relationships you have with your customers. Customer Segments: To build an effective business model, a company must identify which customers it tries to serve. Various sets of customers can be segmented based on the different needs and attributes to ensure appropriate implementation of corporate strategy meets the characteristics of selected group of clients. Channels: A company can deliver its value proposition to its targeted customers through different channels. Effective channels will distribute a company’s value proposition in ways that are fast, efficient and cost effective. An organization can reach its clients either through its own channels (store front), partner channels (major distributors), or a combination of both. Customer Relationships: To ensure the survival and success of any businesses, companies must identify the type of relationship they want to create with their customer segments. The bottom section of the canvas describes the finances. Cost Structure: This describes the most important monetary consequences while operating under different business models. A company's DOC. Revenue Streams: The way a company makes income from each customer segment. https://www.youtube.com/channel/UCIypuA7lS-FsVG6cMlNCK2w?sub_confirmation=1 Check out some of our other videos Compensation claims - how long should it take https://youtu.be/NuxfrgSTg78 LLC vs S Corp https://youtu.be/4xNCnf9hitw Minizing tax https://youtu.be/ybSnFb6rx6Y How to fund a startup https://youtu.be/ctzDb59sw5M Kickstarter success Ep 1 https://youtu.be/2EG78JNZ7nA Kickstarter success Ep 2 https://youtu.be/ZMlq5CmUNz8 How to pitch to investors with Guy Kawasaki https://youtu.be/-epR-uGlv4M If you are interested in sustainability issues then check this video out The Sustainable Business Model Canvas https://youtu.be/gVimMEI2u2w
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Text Comments (81)
CurbsideUnderwood (6 days ago)
Excellent video, thank you!
Freedom Fighter (9 days ago)
I partially agree on the point where you said some customers don't care about technologies.. well I have worked with some customers who were technical sound. Our talk started from technology only. It was great fun to work with such customer.
Panuwat Shitamaro (10 days ago)
Thank you for sharing this Business Model, it's very helpful
Anand R Möorthy (16 days ago)
Succinct presentation, thank you very much.
V. Chris Holbrook (28 days ago)
You rock Steve! So miss your lectures back in the Haas School of Business days. :)
Hans-Peter Hubmann (29 days ago)
Brilliant! 10 out of 10 for this clear and informative presentation! Thanks a lot!
Born 2 Cre8 (1 month ago)
SUBSCRIBED!! Very well presented and so informative.
Joshua Ochieng' (1 month ago)
This was awesome
Wayne Weiner (2 months ago)
Great summary
Jaspal Prajapati (2 months ago)
This is amazing and very helpful to understand what is a business model exactly. Thanks
Javid Nobakht (3 months ago)
excellent
Khaled Mouselli (3 months ago)
Very helpful, thanks
business start (3 months ago)
need winning business plan as i get from here http://bit.ly/bisnes-plan
EclipZe Muzik (4 months ago)
wonderful work!!
Arief Nuary (4 months ago)
Very comprehensive!
shivam pandiya (4 months ago)
Surely Very Helpful video. Just have a problem in understanding th customer relationship. Please explain it in more detail.
Traci S Campbell (4 months ago)
Great video! Thanks for sharing this
Joseph Randazzo (4 months ago)
Great, great resource. I just wrote an in-depth guide for small businesses (https://www.strattex.co/local-business-tools) and linked to this video within that guide. It's linked under #18. It's just THAT good of a resource. Thanks so much for putting this out there.
Rohit Singh (4 months ago)
Thanks for clearing the concept about business model canvas in just one video. Kudos
DIYENT (4 months ago)
just what I needed THANK YOU!!!
Care Air (5 months ago)
Hahaha... just look at the FS Material.
silvester chiweza (5 months ago)
very brief But straight to the point. No time consuming,,wao thats great,
kostas trip (5 months ago)
Best explanation of the whole youtube world
Jiwon Kim (5 months ago)
Saw this chart/studied it at least five times but still relevant everytime.
قسصانءءءءا لف
Coach J. St. John (5 months ago)
Awesome and insightful- filled a few knowledge gaps too.
Juan Flores (6 months ago)
Great!!
Sam Lee (6 months ago)
it's like a fog just lifted
Alexej Bespalko (6 months ago)
Amazing!
blind (7 months ago)
I feel guilty. I should be paying to watch helpful stuff like this.
Henry Sheykin (7 months ago)
https://finmodelslab.com If you start thinking further steps, you might need a professionally crafted financial model to add to your business plan or pitch.
Mona Youssef (7 months ago)
Excellent video; content, animation, sequence and examples provided.  Thank you very much.
Mohamed Elouafi (8 months ago)
excellent,think u .
ondrmes1 (8 months ago)
HOLY SH*T! repect bruv! When and where is your next lesson SIR?! Am on my way already THO!
Elegant Elephant (8 months ago)
is the voice jerry sienfield?
Ahmad Musnansyah (9 months ago)
Thanks.. great presentation..
Life & Style With Jhirae (9 months ago)
Great, thank you! I definitely understand the business model concept now!
Arash Chitgar (9 months ago)
that was amazing and really helped me. could you please make a video to teach "business capability model" just like this video?
Murtada Abuzaid (9 months ago)
very informative. Thanks
陳彥安 (10 months ago)
Thanks for sharing :D
Matthew Wise (10 months ago)
One minute in and you have a new subscriber. Perfect delivery, perfect pace, love the tone. Thank you!
riccardo roano (10 months ago)
it was a great presentation, thank you!!!!
Fuentes Creativas (10 months ago)
Excellent summary!
Chamara Dassanayake (10 months ago)
Thanks a lot.. :)
101DaExclusive (10 months ago)
DOPE I NEEDED THAT I TOOK ALL NOTES!
karen crisna (11 months ago)
Nice video and presentation! Keep it up Click, like and share for informative and inspirational videos https://youtu.be/Sz0ye2y5_yA
ديمة (11 months ago)
Thank you for this wonderful presentation.
alex giddings (11 months ago)
Very Helpful. Thank You. My only query is this; under costs, do you actually cost the business model out financially or do you list the largest overheads without listing their costs?
KHANGAR MIND (1 year ago)
thank you for this excellence presentation
Kien Cuong (1 year ago)
thank you very much !
Vitaly Samonov (1 year ago)
Fantastic!
Rhonda Stahl (1 year ago)
I am working backwards....I started my company, now I'm doing the actual business model canvas......and YES this probably shoulda been done before I got started, not 4 years in...BUT I'm discovering as I go along....I've done a lot the "right" way....the rest, let's just say, "Math is easier when you already have the right answer and this presentation really breaks it down in plain simple, understandable terms. Thanks...sign me better late than never.
TovaSC (1 year ago)
Very helpful. Thank you.
peter phang (1 year ago)
My thanks =)
Quaid Surti (1 year ago)
Good presentation. Interesting
FAZIDAH .BAKHTIAR (1 year ago)
excellence
pu pungna (1 year ago)
great explanation and also fun to learn through, thank you.
Zhe Yin (1 year ago)
Exactly what i needed, thank you so much for your help
ntuthuko mthiyane (1 year ago)
wow, you the best
iamLacey (1 year ago)
This was very helpful. Thank you sooo much! :-)
Gurjit Sidhu (1 year ago)
really good presentation, love the use of the board, keeps it interactive. its made me subscribe!
iamLacey (1 year ago)
Me too! :-)
Sharad Pant (1 year ago)
Great , well explained.
ben massoud marwa (1 year ago)
i need help !
Sara Maganda (1 year ago)
Thanks for the great presentation!
ChiaoFan Yang (1 year ago)
great
Adele Hauwai (1 year ago)
Great presentation!
Marlynn Bourque (1 year ago)
Excellent clarifications!! Thanks!
David Brinkhurst (1 year ago)
Steve Blank Rocks!!!!!!!!!!!! ;-)
Ghazi Almuhaisen (1 year ago)
Thans it was excellent
Nexus Id (1 year ago)
great vedio which delivered all the idea in a simple way! thank you
Ashiru Omolara (1 year ago)
Nexus Id hhhhhjhhu
MyLadyApp (1 year ago)
Thank you
Rory Rathbone (1 year ago)
Fantastic, thank you.
Jordan Dionne (1 year ago)
Steve Blank? Sounds like Steve Blank
David Brinkhurst (1 year ago)
yup
Hung Vu (1 year ago)
IT is excellent, thank you very much
Thank ,it is very excellence presentation.
Ashiru Omolara (1 year ago)
ชาญโชติ ชมพูนุท Zoe.
Mission Media (1 year ago)
I love the way you delivered this especially in under ten minutes. its a fab model for entrepreneurs, freelancers and of course business start ups. You have a new subbie!
fnd zali (1 month ago)
Mission Media- Simple but Excellent presentation. Good job!
Lindsey Frazier (1 year ago)
this is exactly what I needed! thanks!
Janita Umeh (1 year ago)
Awesome

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