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What is a Business Model Canvas (BMC)?

What is a Business Model Canvas (BMC)?

It’s a tool for organizing reality

Business Model Canvas (BMC) is a framework, or if you prefer in simple terms, a way to tell others of what your business is about in just a diagram! Yes, it sounds and actually is super cool. Once you understand the very simple terminology behind this diagram, you will be able to share a common business language with a huge amount of people among whom you may find your future leader, digital marketing strategist, partner, CEO or even better, funder.

Made of 9 parts

BMC is made of 9 distinguishable parts. The left side of the canvas (Key partners, Key activities, Key resources, Cost structure)is also called “behind the scenes” while the other half is called “in front of the scenes”. Let’s give a very brief intro to all of the parts now

Customer Segments

This part is about your customers. Which major types of customers do you have? Keep it brief and don’t over-analyze. Google Search, for example, should have 2 major customers: Visitors and Advertisers. This is not about your customers’ psychological traits and/or needs etc. Don’t try to do that and do not confuse this with the buyers’ personas teachings. These buyers correspond to different products. In our example, Visitors are for Google Search results and advertisers are for Google Ads.

Value Proposition

This is what you have to offer to your customers. Google here would write “google ads and google search”. Pretty simple. These are the different products that correspond to different customers. A free press newspaper would also write “free newspaper and advertising space”.

Channels

This is how your VP reaches your CS. This one is a huge when it comes to digital marketing. It actually equals with the theory of “touching points”. The points where any candidate client sees the message that sells your product. It can be your website, your FB page, your FB ads

Customer Relationships

This one has to do with how you service and retent your customers. Is it through personal assistance? Co-creation of content? You get the point

Key Activities & Key Resources

We visit these two together. The best way to answer this is to question yourself regarding the previous 4 blocks. For example, what kind of key activities are needed for the VP? If you sell books, you need to write “printing”. Don’t analyze. Do not write “make green shoes” if you sell shoes. Write “manufacturing”

Key Resources are pretty obvious. What do you need to get these activities going? Again, think of the first 4 blocks. For example, if one of your channels is a website, then guess what, you need to write “website” as a key resource. If personal assistance is a CR, then you need to also include “personality value” . KR need not be just buildings. They can be skills as well or, of course, financial (“stocks” if you are a broker, or “cash”) for example.

Key Partners

This is for you to write down all the people and businesses that help you deliver. Is it your manufacturer? Your Angel Investor? Your Joint Venture or your supplier? Write them down!

Cost Structure & Revenue Structure

Whether you are value-driven or cost-driven, you need to write down all the cost categories that are needed for you to operate. This is the cost of supplies, marketing, manufacturing, etc.

The same goes for Revenues. These are closely tied with the VP and CS as every revenue goes with the customer segment of yours. for a free-press newspaper, you have a revenue of none for the readers who take the newspaper and one with a cost for the advertisers who are promoted on your platform-based model.

What about webvolume.net ?

We can certainly help you reshape your whole BM in a way that it will be compatible with the digital realm and thus, make your online presentation and sale easier and more effective! Contact us for more!

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