business model canvas
TRANSCRIPT
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Business model canvas
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A BUSINESS MODEL IS
HOW A COMPANY CREATES VALUE FOR ITSELF
WHILE DELIVERING PRODUCTS OR SERVICES FOR ITS CUSTOMERS.
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Business model canvasValue proposition
Customer relationships
Customer segments
Channels
Revenue streamsCosts
Key partners
Key activities
Key Resources
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Business model canvasValue proposition
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Value proposition
NOT a list of features / technologies
How do you create joy or relieve pain?What need are you addressing?What problem are you solving?
Look for needs when possible!=> 5 why’s
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Business model canvas
Customer segments
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Customer segments
• Better multiple detailed than one generic
• Create persona(s) / archetypes per segment
• Learn to know your customer!– How do they buy? – How do they learn about new products?– What is their role?– What matters for them?
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Customer segments
Look for the holy grail: product – market fit
• Map value proposition to customer segments
• Make sure these hypotheses are TESTED
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Business model canvas
Channels
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ChannelsVirtual channel Physical channel
Virtual product • Facebook• Twitter• Apps
• Insurance• Software• Stocks
Physical product • Shoes• Books• Movies• Consumer electronics
• Food• Household goods• Cars
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Channels
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Channels
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Business model canvasCustomer relationships
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Customer relationships
• How do we GET customers?
• How do we KEEP them?
• How do we GROW?
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Customer relationships
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Customer relationships
Physical channel
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Customer relationships
Web / mobile / cloud channel
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Customer relationships
GET customers by PAID demand creation
• Public relations
• Advertising
• Trade shows
• Webinar
• Direct (e-)mail
• Search engine marketing
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Customer relationships
GET customers by EARNED demand creation
• Publications in journals
• Speeches / conferences
• (Guest) blogging
• Social media
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Customer relationships
KEEP customers
• Loyalty programs
• Product updates
• Customer satisfaction
• Contests / events
• Blogs / newsletters
• Social media
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Customer relationships
Keep the metrics!
• # awareness / # consideration
• $ spend on adds / acquired purchase =
customer acquisition cost
First think about GET, once you have some think
about KEEP and GROW
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Business model canvas
Revenue streams
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Revenue streams
NOT ONLY the price people are paying
Revenue stream = the strategy the company uses to generate cash from each customer segment
Pricing = the tactics you use to set the price in each customer segment
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Revenue streams
What value are customers willing to pay for?
How do customers pay today?
How much are they currently paying?
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Revenue streams
• Asset sale: ownership of physical product
• Usage fee: proportional fee to usage of service
• Subscription fee: continuous access to service
• Renting: temporary access to good/service
• Licensing: fee for use of some IP
• Intermediation fee: bringing two parties together
• Advertising: fee paid by brands and companies for ads
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Revenue streams
Common mistakes:
• Price on cost
• Price on value
• By default less than competitor’s
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Business model canvas
Key partners
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Key partners
• Shared economics (2-way)
• Mutual success / failure
• Common customers
• Co-invention / co-development
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Key partners
Risks:• Impedance mismatch• Timing mismatch• No clear ownership of customer• Product vision problems• Different underlying objectives• Churn in partners strategy / personnel• IP issues• Difficult to unwind / end
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Business model canvasKey activities
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Key activities
What is essential for you to be able to deliver your value proposition?
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Business model canvas
Key Resources
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Key resources
• Physical resources– Company facilities– Products / services
• Financial resources• Intellectual resources• Human resources– Qualified employees– Mentors / teachers / coaches
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Business model canvas
Costs
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Costs
What are your costs?
What are the most expensive resources /
activities?
Fixed / variable?
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Tips on creating business models
• Separate colors for each customer segment
• Use sticky notes …
… but as few as possible
• Focus on quick communication
• Draw instead of write
• Explore lots of possibilities
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• You sell your value proposition …
• to a customer segment …
• who you reach through some channel.
• You have an ongoing relationship to create
retention and lock-in.
= That’s how you make money
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• To create the value proposition, you do certain
key activities …
• using your key resources …
• which costs you money.
• Anything you don’t do or have yourself, you get
from a partner.
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EXAMPLE
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