Improving The Business Model - Questions To Answer
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This document outlines the key elements of a business model canvas including key partners, key activities, value propositions, customer relationships, customer segments, channels, key resources, cost structure, and revenue streams. It provides examples and characteristics for each element to help define a business model.
Improving The Business Model - Questions To Answer
- 1. Key Partners Key Activities Customer Relationships Customer Segments Who are our Key Partners? What Key Activities do our Value Propositions require? What type of relationship does each of our Customer For whom are we creating value? Who are our key suppliers? Our Distribution Channels? Segments expect us to establish and maintain with them? Who are our most important customers? Which Key Resources are we acquiring from partners? Customer Relationships? Which ones have we established? Which Key Activities do partners perform? Revenue streams? How are they integrated with the rest of our business model? Mass Market How costly are they? Niche Market Segmented motivations for partnerships: categories examples Diversified Optimization and economy Production Personal assistance Multi-sided Platform Reduction of risk and uncertainty Problem Solving Dedicated Personal Assistance Acquisition of particular resources and activities Platform/Network Self-Service Automated Services Communities Co-creation Value Propositions What value do we deliver to the customer? Which one of our customer’s problems are we helping to solve? What bundles of products and services are we offering to each Customer Segment? Which customer needs are we satisfying? characteristics Newness Performance Customization “Getting the Job Done” Design Brand/Status Price Cost Reduction Risk Reduction Accessibility Convenience/Usability
- 2. Key Resources Channels What Key Resources do our Value Propositions require? Through which Channels do our Customer Segments Our Distribution Channels? Customer Relationships? want to be reached? Revenue Streams? How are we reaching them now? How are our Channels integrated? types of resources Which ones work best? Physical Which ones are most cost-efficient? Intellectual (brand patents, copyrights, data) How are we integrating them with customer routines? Human Financial channel phases: 1. Awareness How do we raise awareness about our company’s products and services? 2. Evaluation How do we help customers evaluate our organization’s Value Proposition? 3. Purchase How do we allow customers to purchase specific products and services? 4. Delivery How do we deliver a Value Proposition to customers? 5. After sales How do we provide post-purchase customer support?
- 3. Cost Structure Revenue Streams What are the most important costs inherent in our business model? For what value are our customers really willing to pay? Which Key Resources are most expensive? For what do they currently pay? Which Key Activities are most expensive? How are they currently paying? How would they prefer to pay? is our business more: How much does each Revenue Stream contribute to overall revenues? Cost Driven (leanest cost structure, low price value proposition, maximum automation, extensive outsourcing) Value Driven ( focused on value creation, premium value proposition) types: Asset sale sample characteristics: Usage fee Fixed Costs (salaries, rents, utilities) Subscription Fees Variable costs Lending/Renting/Leasing Economies of scale Licensing Economies of scope Brokerage fees Advertising fixed pricing List Price Product feature dependent Customer segment dependent Volume dependent dynamic pricing Negotiation( bargaining) Yield Management Real-time-Market