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- 1. BUSINESS MODEL CANVAS Develop your idea or scale it up Who will help you? KEY PARTNERS Who are yourkey partners/ suppliers? What arethemost important motivations for thepartnerships? Networkingwithkeypartners isessential togrowthe businessbothorganicallyand externally.Stakeholderssuch as investors,shareholdersand eventhe bankwill puttheir bestinterestincapitalising theirinvestmentintothe businessforgreaterinterest rate,whilstthe business benefitsfromgreateraccess to start-upcapital whichis alwaysa struggle fora growingbusiness. In addition,TuleyProductions inthe earlyyearswill needto relyon cheapleasingof equipmentandstudiotime until they are financial stable enoughandlarge enoughto have theirownassets. However,the leasingsuppliers will needtobe reliableand fixedinordertomaintainthe efficiencyandorganisationof the business. How do you do it? KEY ACTIVITIES What key activities does yourvalue proposition require? What activities aremostimportant for your distribution channels, customer relationships, revenue streams,etc? Unlike other competitors inthemarket, Tuley Productions only focus on music videos, rather thanexperimenting in other media outlets suchas commercials and TV as ourvalue proposition. To ensurethis business is as high qualityandprofessional,thekey activities includeconsultation withthe artist,design, production, edit and even marketing thevideo. What do you do? VALUE PROPOSITION What corevaluedo youdeliverto your audience? Which needs are yousatisfying? Value propositionisthe core reasonwhy entrepreneur’sset-uptheirventuresinorder to profitor achieve the corporate social mission.Withsatisfyingconsumerneeds, findingagap inthe marketor supplyinga climaxingdemand,there isverylittlechance of successbysimplyputtingyourname ona product/service whichisalreadybeingcatered for.Alternatively,anentrepreneurmayfind where the productor service canbe improved and take furtheractionas if theyfeel somethingcanbe changed,it’slikelyhis marketwill be investedinthischange too. TuleyProductionsissickandtiredof seeing youngfuture prospectsof the musicindustry withbags of potential andtalentnotbeing able to achieve theiraimsastheydon’tknow how to launchthemselvesintothe scene orat leastaffordit.Picture this:the thousandsof boysand girlsaged16-22 yearsoldwith incrediblesingingandsongwritingabilitywith all theirworkstoredon theiriPhone perhaps luckyenoughtoget a pub gigonce every monthor two.With a professional,creative and head-turningmusicvideotomatchtheir work,thiswill putthemonthe scene withthe potential toaccumulate massnumbersof viewsonYouTube.Ourservicesalsoinclude a ground-breakingpremiumoptiontoalso marketthe musicvideoacrossonline platformssuchas Instagram, YouTube and Snapchatto directlymarketthe musicvideoto the desiredaudience. How do you interact? AUDIENCE RELATIONSHIPS What relationship does thetarget audience expect youto establish? Howcan you integrate that into your work in terms ofcost and format? Creatingpositive relationshipswiththe viewersof the content isa huge benefittothe business.If aclientreacheseven 100,000+ viewsonYouTube,thisisthe perfectopportunityto integrate ourbrandintothe scene fornewclientsrelatedto the existingcontent.If afuture clientseesourproductionswith an artistand is inspiredtohave somethingsimilarfortheirown music,thisisgoingto create a fanbase of ourwork overtime. Thiscan be achievedbytaggingourlogowithvoiceoveratthe beginningandendof eachmusicvideotoour socials.The audience caninteractwithusvia our strongsocial media presence. Who do you help? AUDIENCE SEGMENTS Which groups areyou creating valuefor? Who is your mostimportantaudience? There are twomaingroups relatingtothe audience of Tuley Productions;the firstisthe actual client withthe secondarybeing the audience of the clientthemselves. Thisisarelativelyconfusing combinationintendingtosupplythe demandof anartistswhoare alsodemandingasupplyof creative andentertainingmusic videos.Thisiswhere lateron,channelsof distributionwill needto be heavilyorganisedparticularlymeetingthe varietyof needs whichcan be hard to meetforany productioncompany. Itis importantto rememberandreflectthatthe audience of the client’siswhere the mainrevenue will be obtainedfrom.Without the clients,there willbe nofanbase oraudience beyondthat.Asa brand,we needto have a strongcorporate culture whichIbelieve will be successful andattractive toourtarget marketof budding musicians. More specifically, the audience canbe splitintotwodifferent segments.Firstof whichisthe budget-endhalf of ourservices designedspecificallyforthe 16-18-yearoldswhomay have very little tonone exposure withinproduction.Thisservice isunique to the industryas we heavilypromote thatthe clientcomesupwith the ideasandgive themcontrol to create theirownmasterpiece aroundtheirneeds.Whereastheymayhave the core ideas,itis our bestinteresttoturnthemintoa reality.The other segmentationof ouraudience we strivetohelpare the 18-20 year oldswhowill likelyhave more experience. Theyare likelytohave college/degree level of educationtobringexperience and exposure tothe teamwhere theyare likelytoidentifytheirown needsandrelate totheirpreviouswork.Higherpricescanbe chargedat thispointasour higherqualityexpertise,equipment and editingwillbe neededtomeetthe needsof the more experiencedclient. Bothsegmentationsplayavital role in maintainingthe cashflowandmissionof the business. What do you need? KEY RESOURCES What key resources does your value proposition require? Without thekey resources and appropriateequipment, thejobsimply can’t be achieved. Youwouldn’t attemptto knock down a building using a bucket and spade. Oneofthekey resources we will needis the appropriatehardware andsoftwarein order to not only meet the client’s needs, but givea genuine professional reason why future stars such cometo our services ratherthan attemptto produce anedita filmon their own. Cameras,microphones, editing software, studio space,offices and lighting will allbeneededin various forms to give thebest opportunities to meet the clients needs andto stand-by our missionstatement,to give young artists the power and opportunity to create their visions ofmusical success into reality, giving them theability to design, visualise and createtheperfect music videoto launchthem into the market. How do you reach them? DISTRIBUTION CHANNELS Through which channeldoes your audiencewant tobe reached? Which channels work best? How much dothey cost? How can they be integratedinto your audiences'routines? What willit cost? COST STRUCTURE What arethemost important costs in your work? Which key resources/ activities aremostexpensive? Tuleyproductionswoulduse pricingtechniquessuchascost pluspricingto ensure the profitabilityof the businessmeetsthe affordabilityof the coststructure.The mostsignificantcostsof the businessinclude lease orpurchasingof equipment such as cameras,employmentandlocation.Marketingisalsoavital investmentto put our services onthe map,firstlocallythenexpandingnationally.All aspectsof thiscost structure will have asignificantimpactonthe pricingof eachvideo. How much will you make? REVENUE STREAM For what valueareyour audiences willing topay? What and how havethey recently paid? How would they preferto pay? How much does every revenuestreamcontributeto the overallrevenues? Revenue streamisthe toppriorityforanybusinessaimingtomake aprofit.As mentioned,flexible costpluspricingwillbe enforcedtoensure the profitability and liquidityof eachfilmisontargetto meetsalestargets. The clientcanexpect to pay £300-2000 for the filmdependingonthe costvariables.Foranaspiring self-madeartist,thismayseemlike alotat first,butshouldbe seenasa strong start-upinvestmentintotheirmusiccareer. Adminwill file andsortall financial statementsandinvoicestoensure ouroverall financesandprojectionsare clear, accurate and measurable.
- 2. CREATED BY: Osterwalder A, Pigneur Y, (2010) Business Model Generation