3-1 Discussion: Business Model Canvas

Instructions

Part 1

Think about the information you will need to create your business model using the nine segments of the business model canvas (BMC). Also keep in mind that for your elevator pitch in Milestone One, you will need to include at least a few of these segments.

Then, in your initial discussion post, address the following:

• Which of the segments do you think you can complete immediately?
• Which segments do you think might need more work?
• Are there any factors or segments you had not considered so far? Which ones? Explain.

Part 2

In your response to two peers, address the following:

• Provide at least one specific idea or recommendation to help them address the problem areas in their model.
• Share any suggestions or tips that you found helpful when researching or working on your business idea.

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Peer 1 Post

Becky Healey posted May 18, 2022 9:43 PM

Hi Everyone!

According to the BMC the 9 segments are Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships, and Cost Structure.  Of those segments, I feel like the Key Resources would be the easiest since my product idea deals with waste.  There would be no shortage of used coffee grounds.  I think the Customer Relationships will be easy to build immediately also.  Starbucks already has a well-built, faithful customer base.  I believe when more people realize how my new product that uses the “waste” from making coffee drinks is more environmentally friendly along with the donations to limit Rainforest deforestation helping the planet, this should increase the clientele all the way around.

I think some segments that might need more work are the Channels, Key partnerships, and cost structure. Since this is a new business venture, it will most likely take more time to build the channels and partnerships. Once those are built and the contracts are negotiated, the cost structure should be a little easier to work out.

I haven’t thought about 9 separate segments per se, I had combined several of the segments into 1 group. For example, “Customers” in my mind encompassed both the Customer Segments and the Customer Relationships.  I think perhaps the “Value Propositions” hadn’t been really a thought-out process for me.  I had just thought as far as the networking and negotiating of contracts.  I had considered about possibly creating customized fertilizer formulas for larger agricultural contracts; perhaps if they had locked into a high dollar, multi-year contract.  I felt that this could benefit both parties as the company would have the customer and the income, and the farmer/agricultural company would have a custom fertilizer formula that was engineered to work best for the crops they were growing which would also help their income with better crop production/harvest.

Peer 2 Post

Christopher Barberio posted May 16, 2022 11:01 AM

Hi,

I believe I have a good grasp on the BMC and I believe all nine (customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure) will work out perfectly with my new product line. I think the most work we will need is cost structure and key activities. Acquiring the same great taste in my product while going healthier is always a concern. This is something I also haven’t considered much as I believe my product will be impactful but executing the flavor is the most important thing in reality.

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