Build Your Startup Canvas
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The document provides guidance on developing a startup idea using the Business Model Canvas tool. The Business Model Canvas is a visual guide that helps shape business ideas in a simple, clear manner through multiple iterations. It examines nine key building blocks for a business model: customer segments, value proposition, distribution channels, customer relationships, revenue streams, key resources, key activities, strategic partners, and costs. Developing an understanding of each building block is important for building a viable business model and startup idea.
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Build Your Startup Canvas
- 1. BUILD YOUR STARTUP IDEA By Co.Lab.Orate Coworking Hosted By Raghuveer Kovuru, B.Com, MBA, CWA, ADR Founder. Entrepreneur. Startup Consultant
- 2. “Ideas not coupled with action never become bigger than the brain cells they occupy” - Arnold Glasow
- 3. The Business Model Canvas Developed by Alexander Osterwalder in 2008 A visual guide to building your business model Ideas take shapes in a simple and lucid manner There is no one best business model Multiple iterations lead to considerable success
- 5. Customer Segments • Segment Dimensions (Single Vs. Multi-Sided) • Segment Composition (Micro Level Inspection) • Problems, Needs, Habits & Current Alternatives What do customers want? Who is your target audience?
- 6. Value Proposition • Standing out is crucial • A unique selling point • Preference over current alternatives What problem are you addressing? Does your USP align with segments?
- 7. Distribution Channels • Bridges between customers and products • Direct & Indirect Channels • Superior supply chain How does your product reach your customer? How well can you establish sales?
- 8. Customer Relationships • Mode of relationship • Customer engagement • Recurring business & service How does the customer interact with you? Does it differ between your segments?
- 9. Revenue Streams • Models of Revenue • Product – Price Exchange • Ideal Pricing What will customers pay you for? In what manner will they pay you?
- 10. Key Resources • Strategic assets • Better placed than your competitors • Required to carry out crucial activities What do you need to conduct business? Are you product driven or service oriented?
- 11. Key Activities • Day to day tasks of running the business • Utilization of key resources • Essential for value proposition What activities are core to your business? What steps are crucial to drive value?
- 12. Strategic Partners • More value driven through partnerships • Key partners can execute certain key activities • Essential partners for smooth execution What is that you cannot do? Who can be your business catalyst?
- 13. Costs • Cost driven Vs. Value driven • Lean approach to building a business • Identifying crucial cost components What are the major costs? Can you stay lean?