Tradition business planning has been substituted by a new business model called Canvas.
This methodology is not only popular amongst startups but is also used by the biggest world corporations. It consists in 9 building components that I would like to introduce below:
1) Customer Segments – Who are your main clients and who creates value?
2) Value Proposition – Which value do you give to our customer? Which customer needs do you cover?
3) Channels – Which channels to you use attract your customer segments? Which should be used?
4) Customer relationships – What kind of relationship do your customers expect? Do you fulfill their expectations?
5) Sources of income – What are your customers willing to pay?
6) Key resources – What key resources require your deals, distribution channels and client relationships and sources of income?
7) Key Activities – What key activities require your deals, distribution channels, client relationships and sources of income?
8) Key Partners – Who are your key partners and suppliers? What key resources can be sourced from partners?
9) Cost structure – What are the costs associated to your business model? Which key activities and key resources are the most expensive ones?
To get more details and adapt the Canvas to your individual business, get in touch!