Entrep BMC Flashcards
This is all about Visualizing your business
Business Modelling
This describes the rationale of how an organization, creates, delivers, and captures value.
Business Model
A business model expresses the core business logic of how a firm needs to be?
What is the revenue model?
How much does it cost to produce and market? How much will you make? Is the idea profitable?
3 parts of a business model
- Creating something customers want to buy
- Identifying Who and How to market to customers
- Revenue Model
Why do entrepreneurs use a BMC?
- Easy to understand
- Focused
- Flexible
- Customer Focused
- Shows Connections
- Easy to communicate
What does BMC mean?
Business Model Canvas
How many variables are there in a BMC?
9
1st segment/variable of the BMC
Customer Segment
This is where you should describe your target market and Identify which different customer segments you will serve
Customer Segment
2nd segment/variable of the BMC
Value Proposition
This is where you describe the group of products and services that provide value for your customer segment.
Value Proposition
3rd segment/variable of the BMC
Channels
4th segment/variable of the BMC
Customer Relationship
This segment describes how your company communicates with your customers
Channels
This segment describes your most important strategic assets that are required to make your business model work.
Key Resources
This segment describes the strategies and tactics used to ___,____, and ____
Customer Relationship, Get, Keep, and Grow
This segment describes the cash a company generates from the customer segment and where goes
Revenue Stream
5th segment/variable of the BMC
Revenue Stream
6th segment/variable of the BMC
Key Resources
These are the various types of Key Resources
Physical
Intellectual
Human
Financial
7th segment/variable of the BMC
Key Activities
This segment describes the most important activities in your company,
Key Activities
8th segment/variable of the BMC
Key Partners
This segment describes the network of suppliers and patterns that support you in the running of your business
Key Partners
9th segment/variable of the BMC
Cost Structure