Business Model Canvas is a business tool that is used to visualize all the building blocks when starting a business, including customers, the road to market, value proposition, and financing. You can also try "Lean Canvas", which is a simple 20-minute one-page business plan template that helps you break down your idea. It is adapted from Alex Osterwalder's Business Model Canvas.
Sections on BMC are:
Customer segments: Who are your customers? What do they think they see? Feel? Act?
Value propositions: What is persuasive in the proposal? Why do customers buy and use?
Channels: How are these offers promoted, sold, and delivered? why? Do they effectively work?
Client Relationships: How do you interact with the customer during their "journey"?
Revenue Streams: How does the company generate revenue from value propositions?
Key activities: What are the unique strategic things the business does to make its proposal?
Key Resources: What unique strategic assets should the business compete on?
Key partnerships: What can't a company do in order to be able to focus on its core activities?
Cost structure: What are the main cost factors for the company? How are they related to revenue?
Each of these blocks must be meticulously filled in, and reviewed regularly to ensure the business model remains accurate - it is a good idea to do before registering a business.
