Business Model and Canvas Overview

A simplified representation of a business's operations, showing how it works and if it can be profitable.

A tool to create and evaluate business models, presenting essential elements for analysis.

Identifying the target customer groups for the business, analyzing whether they are mass market or niche.

The value a business offers to its customers, considering both economic and social benefits.

The methods a business uses to reach its customers, whether direct (e.g., own stores) or indirect (e.g., wholesalers).

Critical tasks for delivering a business's value proposition.

Essential collaborations with other businesses to achieve goals.

Business models are useful for analysis, communication, and strategic thinking.

Types of relationships a business wants to build with customers and how they are managed (self-service, personal assistance, automated, communities)

Ways a business generates money from clients (asset sale, usage fees, subscriptions, licensing, brokerage, ads, data sale).

Essential assets needed to operate a business (physical, intellectual, human, financial).

Components driving business costs (product, activity-based costing, variable vs. fixed costs, break-even point, economies of scale, scalability).

Strategic alliances between non-rival companies.

Challenge of creating new business models, dealing with industry norms and practical limitations.

A visual tool to sketch the key elements of a business model.

Common recurring structures in business models (e.g., razor-and-blades, freemium, long tail, multi-sided platforms, open source).

A document used to track and manage project costs. It helps ensure that only authorized changes are made to the project budget and that all project costs are accounted for.

The process of monitoring project expenses to ensure that they stay within budget.

A project management technique that combines scope, time, and cost data to assess project performance.

The value of the work completed based on the budget.

The planned cost for the work scheduled to be completed.

The actual amount spent to complete work during a specified period.

The difference between the budgeted cost of work performed and the budgeted cost of work scheduled.

Positive SV indicates the project is ahead of schedule, a negative SV means the project is behind schedule.

A series of steps involved in creating and launching a new product, from initial concept to market introduction.

Creating physical or digital models of a product to test and refine its design before full-scale production.

Identifying and fixing design flaws, ensuring user requirements are met, and reducing risks in product development.

Physical prototypes are physical mockups, while digital prototypes are computer-generated simulations or wireframes.

Developing a product through multiple cycles of prototyping, testing, and refining based on feedback.

Prototypes facilitate effective communication and collaborative decision-making among involved parties.

Effective prototyping can save time and resources by catching and addressing issues early in the development process.

Prototyping ensures that the final product is functional, meets customer expectations, and has a potential for success.

A minimal viable product is a version of a product with just enough features to attract early-adopter customers and validate a product idea.

A process of collecting user feedback, analyzing it, and using it to improve the product.

Using an MVP to test if there's real demand for your product in the market.

Developing an MVP saves resources by focusing on essential features and avoiding unnecessary complexity.

Iterative development allows for ongoing learning and refinement, turning feedback into better products.

Breaking down development into smaller cycles reduces risk by providing early insights and opportunities to adjust.

Using feedback analysis to make informed choices about product development based on real evidence.

A 3-5 page introduction to your business plan that highlights key information, especially your value proposition.

A deep dive into your target market, defining who your customers are, their needs, and how your product/service fits in.

The specific group of customers your business aims to sell to, considering their demographics, interests, and needs.

The group of individuals responsible for running the business, outlined with their experience and roles.

The overall industry landscape where your business competes, including competitors, trends, and potential risks.

Specific, measurable objectives that guide your marketing efforts, setting targets and deadlines for success.

A detailed plan allocating funds for different marketing activities, ensuring you stay within your financial limits.