When you want to start a business, creating a model of the components that your company needs and uses can be useful. The Business Model Canvas is one tool you can use to help visualise all the building blocks needed to capture your business value. These might include customers, route to market, value proposition and finance. The Business Model Canvas was developed by Alex Osterwalder along with a huge team of experts from 45 different countries to clearly show what your business is all about. All on just one page.
Students will learn how to complete the Business Model Canvas for a business idea as part of a team. This will help them build a business modelling vocabulary and a core entrepreneurial skill set for business development.
Plan per Weeks
Week 1: Introduction to the topic
* What is Business Model Canvas? * Why this modelling tool instead of others? * Introduce Valve’s Steam Marketplace as the example for the course * Groups defined into breakout rooms (these groups will remain throughout the class) * Choose a business to model throughout the rest of the course from a list provided.
Week 2: First 3 blocks of BMC
Using the Steam Marketplace example students will be shown how to create the first 3 blocks. The remainder of the time will be spent in breakout rooms creating their own company model to the same point.
*Customer Segments: Who are the customers? What do they think? See? Feel? Do? *Value Propositions: What’s compelling about the proposition? Why would customers buy it or use it? *Channels: How are these propositions promoted, sold and delivered? Why? Is it working?
Week 3: Second 3 blocks of BMC
Using the Steam Marketplace example students will be shown how to create the second 3 blocks. The remainder of the time will be spent in breakout rooms creating their own company model to the same point.
*Customer Relationships: How do you interact with the customer through their ‘journey’? *Revenue Streams: How does the business earn revenue from the value propositions? *Key Activities: What uniquely strategic things does the business do to deliver its proposition?
Week 4: Last 3 Blocks of BMC + presentation of group Canvases
Using the Steam Marketplace example students will be shown how to create the last 3 blocks. The remainder of the time will be spent in breakout rooms creating their own company model to the same point. We’ll end the nanodegree with a presentation of their completed models.
*Key Resources: What unique strategic assets must the business have to compete? *Key Partnerships: What can the company avoid in order to focus on its Key Activities? *Cost Structure: What are the business’ biggest expenses? How are they linked to revenue?
About the Facilitator
Stacey Piercey is the Director of Entrepreneurial Learning at Galileo. She has led and managed project teams from startup to complete restructuring - the Business Model Canvas has been a key tool in defining a new company strategy or disrupting an existing one!