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Business Model Canvas (workshop at IIM Ahmedabad)
The document discusses business model canvases and how they can be used in the early stages of starting a business to experiment and validate assumptions. It provides examples of business model canvases for Godrej ChotuKool, Flipkart, and Crossword to illustrate how the canvases can be customized for different business models and customer segments. The canvases identify key partners, activities, resources, costs, revenue streams, value propositions, channels, and customer relationships/segments for each business.
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Business Model Canvas (workshop at IIM Ahmedabad)
- 1. Business Model Canvas -A one sheet summary of your venture - Krishnan + Nag, IIMA CIIE, Sep „12
- 2. Story of the$5billion start-up
- 3.
- 4. 1987 1990 1997 1998 $5.2b investment Iridium Spun out Launch Bankrupt 15 rockets founded of 72 satellites Motorola
- 5. Target price: $7/min Viable price: $0.5/min Target users: 42million Actual users: 30,000 1987 1990 1997 1998 $5.2b investment Iridium Spun out Launch Bankrupt 15 rockets founded of 72 satellites Motorola
- 6. Traditional start-up model Build product Big-Bang Develop concept Build product Alpha /test Alpha beta Customer test Launch after Shipment Get funding and offering Market test 3 years Write business plan Build the product Test / fix Ship / fix Planning / collateral PR / plan launch Launch / Demand gen. Initial sales rep Build sales team / selling
- 7. “Big Up FrontDesign” Develop concept Build product Build product Alpha /test Alpha beta Customer Big-Bang Get funding and offering test Market test Shipment Launch Unbridled False sense of Rude Resetting Predictable enthusiasm security awakening expectations disaster
- 8. The traditional methodsof start-ups aren‟t working 90-95% of new ventures fail to meet projections (assumptions up front, market contact at the end)
- 9. Story of theRs. 500 start-up
- 10. Who is thislegendary entrepreneur? Karsanbhai Patel Nirma
- 11. How do youcompete with a Rs. 200cr brand? Answer: Start on a bicycle!
- 12. Lessons from Karsanbhaiand Nirma Start with a strong vision, but start small Clear value-prop for untapped segment Constantly validate all assumptions in the market Iterate and learn
- 13. 2 stages ofstart-ups Search Scale Focus on Focus on Experimentation Execution Source: Steve Blank
- 14. Finding your businessmodel Limited planning, more experimentation and exploration
- 15. Search Principle #1: Business Model Canv KEY KEY VALUE CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS PROPOSITION KEY RESOURCES CHANNELS COST STRUCTURE REVENUE STREAMS Source: “Business Model Generation”, Osterwalder & Pigneur
- 16. Search Principle #2:Minimum Viable Product Minimum + Viable Fertile area for new products Minimum Viable Too-basic products Incumbent no one wants products
- 17. Excel competitor: MinimumViable ?
- 18.
- 19. Minimum Viable Productfor Google Docs Value prop
- 20. Search Principle #3:Focus on exploration Ideas (BMC) Learn Build Minimise the total time through the loop Data Offering Measure
- 21. How it allfits together Agile software development
- 22.
- 23. What are thechildren carrying? Godrej ChotuKool
- 24. Vision: “Refrigeration forrural India” KEY KEY VALUE CUSTOMER CUSTOMER PARTNERS ACTIVITIES PROPOSITION RELATIONSHIPS SEGMENTS R&D Through Microfinance PR retailers Indian institutions Advertising Economical, households effective, with income Sarpanchs portable KEY of RESOURCES cooling CHANNELS Rs.10,000/m solution o whom Frugal Rural retailers Village traditional engineering (constraints of electricity, ambassadors refrigerators experts space, cost don‟t serve solved) COST STRUCTURE REVENUE STREAMS Factory, raw material, SG&A Unit sales
- 25. Competitive BMCs vs.
- 26. Flipkart KEY KEY VALUE CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS PROPOSITION KEY RESOURCES CHANNELS COST STRUCTURE REVENUE STREAMS
- 27. Flipkart: “Online shoppingfor all Indians” KEY KEY VALUE CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS • Supply chain optimisation PROPOSITION Through email, online Publishers • Delivery optimisation chat and database • Urban Indian • SEO marketing • Convenience book lovers • Auto recommendations • Wide selection • Cheaper • Internet- • Trust (CoD) connected KEY people with no RESOURCES CHANNELS credit cards • Delivery staff Web • Technology • First-time capability online shoppers COST STRUCTURE REVENUE STREAMS Book sales Technology, warehouses, deep discounts
- 28. Crossword KEY KEY VALUE CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS PROPOSITION KEY RESOURCES CHANNELS COST STRUCTURE REVENUE STREAMS
- 29. Crossword: “The bestbrowsing experience” KEY KEY VALUE CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS • Sourcing PROPOSITION In store, Crossword • Publishers • Visual merchandising club • Franchisees • Urban Indian • Book reading sessions • Shopper‟s Stop • Browsing book lovers • Crossword Literary (parent co) Award experience • Instant gratification • Companies KEY • Stationery RESOURCES CHANNELS buyers • Real estate • Store • Phone • Casual mall • Web visitors • Institutional COST STRUCTURE REVENUE STREAMS • Book • Coffee Real estate, cost of inventory sales • Trinkets • Advertisin g
- 31. Amul: “High-quality butterwhen you desire it” KEY KEY VALUE CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS • Brand building PROPOSITION • Transactional • Anand milk • R&D into preservation • Through mass union • Mass market media (customer: • Gujarat milk • Guarantee of high federation quality (brand) housewife) • Access and availability • Restaurants KEY and institutions • Convenience CHANNELS RESOURCES • Emotional value • Anand milk union • Retail trade • Direct (for institutional sales) COST STRUCTURE REVENUE STREAMS • Product sales Factory, equipment, inventory
- 32. Mid Day: “Eveninggossip companion” KEY KEY VALUE CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS • Brand building PROPOSITION • Distribution • Transactional • Mumbai • PTI, AP etc. • Deep multi-year • Newsgathering English- high-touch • Light speaking mass • Improving ABC numbers relationships market entertainment in key demographics after/during a busy • Office-goers day • Commuters KEY • “2nd newspaper” CHANNELS RESOURCES Advertisers + • Journalists • Mumbai-wide • Railway platforms Agencies: reach of readers in • Kirana shops • Mass market • Salespeople with a relaxed context • Mumbai media-planning in a unique time • Direct • Classified knowhow window • Discount COST STRUCTURE REVENUE STREAMS • Retail offtake (5%) Newsroom, newsprint • Advertising (95%)
- 34. Khan Academy: “Educationfor everyone” KEY KEY VALUE CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS • Pedagogy research PROPOSITION Deep personalisation • Gates • Content creation (automated) • School/college Foundation • Content delivery • Hardware • Comprehensive age students • Business model makers? world-class with discovery • Governments? lessons for free inadequate • Volunteer access to KEY school/college translators • Personalised, self- CHANNELS RESOURCES directed learning • Content creators • PC/tablet • Working • Recommendation • Smartphone people with engines etc. • Featurephone specialised • Salman Khan – learning needs personal brand • School/college students COST STRUCTURE REVENUE STREAMS* seeking • Certifications? • Placements? reinforcement Hardware, bandwidth, content creation • Advertising *this could be a multi-sided market: students, advertisers, recruiters
- 35. Pivot / Coursecorrection
- 36. Acknowledgements www.businessmodelgeneration.com www.steveblank.com
- 37. Summary: why BMCsare important Elevator pitch Maximise time from mentors Make minimum viable offering, learn, pivot, iterate The foundation for your business plans
- 38. Continue the conversation… knataraj@thoughtworks.com,nag@thoughtworks.com LinkedIn: krishnan-natarajan, knagarjun