Business Model Canvas: Examples and Arrangements

EXAMPLES OF BUSINESS MODEL CANVAS AND HOW TO ARRANGE THEM A. Definition of Business Model Canvas There are many business strategies that can help you build a more organized business. One way is to use a business model canvas. This time, Glints will review how to prepare and an example of the right business model canvas. According to Miro, the business model canvas is a strategy coined by business experts Alexander Osterwalder and Yves Pigneur to briefly illustrate the shape of a business. This strategy is usually used to build new businesses so that they have clearer and more organized goals. However, there are also those who use it for existing businesses and need to re-evaluate the goals and future of a business. B. Example of a Business Model Canvas In general, there are 9 components in a business model canvas. Each component has a close relationship. The following is an example of a business model canvas and its 9 components. C. How to Prepare a Business Model Canvas When talking about how to construct a business model canvas, we will focus on how to fill in each component in it. The following is an explanation of each component of the business model canvas and how to fill it in: 1. Key partners The leftmost part in the business model canvas example above is key partners. Key partners consist of partners or suppliers outside your business who will help you channel your value proposition to customers. This collaboration is certainly important so that the business you build can run effectively and efficiently. For example, if you open a cake bakery business, you must first find a supplier of good quality basic ingredients such as flour or sugar from a trusted supplier. To find out what partners your business needs, answer these questions: • What external products or services does your business need to run smoothly? • Who are the important partners or suppliers of your business? • Why do you need to work with that partner or supplier? 2. Key activities Key activities are components that contain activities or activities that your business carries out every day. This activity is carried out to produce a business value proposition. To fill in this component, you can answer the questions: • What activities can your business carry out to satisfy customers? • What activities are important to build relationships with customers? • What is the distribution process for your business products or services? 3. Key resources Key partners are the resources your business needs to operate effectively and be able to distribute products or services well. The resources referred to are human power, financial, intellectual and physical needs. To determine the resources your business needs, try answering these questions: • What resources are needed to create the product or service to be sold? • What resources are needed to distribute your business products or services? 4. Value proposition In the business model canvas example above, the value proposition is in the middle because it is the most important part. In simple terms, the value proposition is the selling value of your business products or services so that customers do not prefer competitors' products or services. To determine this selling value, you must first know what needs customers want and how your business can help solve those desires. Apart from that, this selling point can also be in the form of newness or new innovation so that customers are interested in buying your product or using your service. Therefore, filling out the value proposition can be helped with questions such as: • What are the problems experienced by customers currently? • What benefits can your product or service provide to solve that customer's problem? • What advantages does your product or service offer that are different from competitors? 5. Customer relationships After determining the previous things, it's time for you to fill in the customer relationship column. This section is quite important because it explains how your business interacts with customers. Interacting or approaching customers can be done in ways such as via social media personally or via the WhatsApp application and email. To determine an effective customer relationship, try answering these questions: • What relationship do you want to create with customers? • How can you reconcile that relationship with your costs or business systems? 6. Channels The next section that must be filled in according to the previous business model canvas example is channels. To channel your value proposition, you need the right channel or simply the right media. To determine the most appropriate product or service distribution channel, try answering these questions: • What channels or media do customers often use when shopping for your products or services? Is it social media, television, or email? • What channels are the most effective and cost efficient for distributing your products and services? 7. Customer segment Customer segments is a place where you fill in who the customers are to whom you distribute your products or services. Before segmenting customers, you must first know the current needs of society. After that, then think about ways that your product or service can provide those needs. If you already know all that, think about the target customers who are the main focus of your business. Try considering some of the questions below to fill in this customer segments section. Which categories of people will use your product or service? Student or Worker? People in their 20s or 30s? Male or female? Who are the main customers who will use your product or service? 8. Cost structures One of the bottom parts of the business model canvas example above is the cost structures column. According to Creately, the cost structures section is a column for writing the expenses your business needs to operate well. Therefore, you can describe the categories of expenses and investment required by your business and the figures. 9. Revenue streams The final component is revenue streams. This section contains the flow or sources of income for a business. For example, you can write income such as monthly sales, perhaps royalties from franchising, and other income. This section will be easier to fill in if you know the customer segmentation, activities and resources your business needs. That's Glints' explanation regarding an example of a business model canvas and how to put it together. Knowing the right business tricks or strategies will make your business grow rapidly and purposefully. One simple trick that you can practice straight away is by compiling a business model canvas. However, you don't know how to make it? Don't worry, Glints has prepared a simple business model canvas template for you. That way, you no longer need to spend extra time and energy to create a table like the example above.