Creating a Business Model Canvas: Key Questions and Considerations

Reducing font size and removing guidance in italics

1.You should stick to one page for each of the parts. To achieve this, you may reduce the font size if needed (no smaller then 8) and you can delete the guidance words in italics

2.Make full use of the Guide questions in italics in the Workbook

3.For Versions 2 and 3 of your BMCs – you ONLY need to show the changes from the previous version

Who are our key partners?

Who are our key suppliers?

Which key resources will our partners provide? Which key activities will our partners perform?

What key activities do our value propositions require in order to produce, market and deliver them? What about channels, customer relationships, different revenue streams?

Value Propositions

What value do we deliver to the customer? Which of our customer’s problems are we helping to solve? Which customer needs are we satisfying?

Marketing & Sales Communication

How will we raise awareness of our products and services with our target customer segments? What messages or offers will create desire and interest? How will those messages reach our potential customers? e.g. Facebook ads

Customer Segments

For whom are we creating value? Who are our most important customers?

What key resources do our Value Propositions require e.g. physical, intellectual, human, financial? What resources do our channels, revenue streams, customer relationships require?

Product & Service Delivery Channels

How will customers purchase and receive the product or service? What about after sales support e.g. returns? Where will the marketing communication direct customers to?  

What are the most important costs inherent in our business model? (think about fixed and variable costs). Which resources and key activities are most expensive?

Is the business model more cost driven (helping the customer save money) or value driven. Is there an opportunity for economies of scale?  

Revenue Related

What value are our customers willing to pay for? What are they paying now? How do they currently pay and how would they prefer to pay? How much does each possible revenue stream contribute to overall revenue? How might we price this product or service e.g. subscription, fixed or variable pricing, pay in advance, paypal?

Explain the history behind your idea: e.g. how did you come up with the idea, why do you think it will be successful? Why do you think you are the right person to develop this idea?

Reflection: What do you understand by the term ‘reflection’? What is an ‘action learning set’ and why might it be more effective than individual reflection?

Using guide questions in the workbook

Assumptions: What are the main assumptions behind your business idea? How could you test those assumptions?

Key Partners

Who are our key partners?

Who are our key suppliers?

Which key resources will our partners provide? Which key activities will our partners perform?

What key activities do our value propositions require in order to produce, market and deliver them? What about channels, customer relationships, different revenue streams?

Value Propositions

What value do we deliver to the customer? Which of our customer’s problems are we helping to solve? Which customer needs are we satisfying?

Marketing & Sales Communication

How will we raise awareness of our products and services with our target customer segments? What messages or offers will create desire and interest? How will those messages reach our potential customers? e.g. Facebook ad

Customer Segments

For whom are we creating value? Who are our most important customers?

What key resources do our Value Propositions require e.g. physical, intellectual, human, financial? What resources do our channels, revenue streams, customer relationships require?

Product & Service Delivery Channels

How will customers purchase and receive the product or service? What about after sales support e.g. returns? Where will the marketing communication direct customers to?  

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Cost Structure

What are the most important costs inherent in our business model? (think about fixed and variable costs). Which resources and key activities are most expensive?

Is the business model more cost driven (helping the customer save money) or value driven. Is there an opportunity for economies of scale?  

Revenue Related

What value are our customers willing to pay for? What are they paying now? How do they currently pay and how would they prefer to pay? How much does each possible revenue stream contribute to overall revenue? How might we price this product or service e.g. subscription, fixed or variable pricing, pay in advance, paypal?

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Pitch: How did you prepare for your pitch? What went well or not so well? What have you learnt from the experience?

Assumption Testing: How have you tested the main assumptions behind your idea? How has your business model canvas been updated and changed and why?

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Comment on your Action Learning Set: What helpful advice, if any, have you received from other people in your group? What advice or help have you given? What has worked well and what could you do to make your group more effective?

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