two cents...
I admit, at first I didnât really see the need or value of business plan/ business model canvas in starting a business. Yes, I have done it before during our entrepreneurship subject, but I didnât really take and made it seriously. Only during this time taking this course subject, that I understand why business model canvas/ business plan is the most important step in starting up you dream business. What I learned is that, business model canvas is a great way to divide and conquer any business strategy. Canvas may be used to show the essential structure of any organization, whether it's a small start-up or a major enterprise. By being more flexible (non-static), concentrating on consumers, and monitoring real performance rather than defining productivity simply by how well the firm adhered to the predefined plan, the business model is an effective alternative to the conventional business plan.
Despite the fact that, as I previously stated, I have written several business proposals in recent years (during junior and senior high school), I have never delved so far and that deep into business knowledge. When I initially looked at the Business Canvas, particularly the questions we were meant to answer in each area; I convinced myself that finding everything we needed would be impossible. Before that day, I always thought of a business as a corporation that makes money by serving or meeting its customers' demands in some way, and that advertises, has channels, and incurs expenditures in its operations or business cost. But I'd always thought and see of everything as a single entity, and I'd never viewed each piece of the Canvas, the value proposition, customer segment, customer relationship, key activities, revenue stream...as a separate/different entity.
At first, and like many of my classmates, I couldnât see the point in presenting our own business model and characteristics to our target consumers. To ask them insights or feedbacks about the business venture we are planning. But, only after the presentation, I found out the importance of not only giving or obtaining an insight or a feedback about the business, but going a step forward, that is to say giving the us new ideas, suggesting solutions to problems. And this is what creating business model made me understand and comprehend: sitting and observing the world that surrounds us, noticing what is wrong or what could be improved, and design-thinking about a solution to do, redo, repair or improve something.
What I actually appreciate more in doing this canvas is that it made it easier for the businesses owners to control, manipulate, or alter changes in their business venture plan than the traditional long business plan report. Manipulating or controlling a business plan/model may be required and necessary for a variety of reasons, including unexpected economic or political developments or events, demand underestimation, and so on. This canvas is easier to manipulate, change, and communicate than a long business plan report. Manipulation of a business strategy/model could be necessary for multiple reasons such as; unseen economic or political events, miscalculation of demand, etc. In this business model canvas it would be easy to note down the modification in the relevant building block and find or see the repercussions, what effects it may have on the others.
Personally, the value proposition was the easiest building component for me to grasp and use. A company's value proposition is the set of products and services it offers to a certain consumer group. It is also the most evident building element is determining because no study is required to completely comprehend what they provide to clients. And when it came to studying a corporation, the essential operations or key activities were the most difficult to understand. The key activities building block involves all the important happenings that a company must do in order to function. And since, in any case, a perceived key activity may be outsourced through a key partnership; this building block may take longer to be completely implemented. All of the major events that a corporation must undertake in order to function are included in the key activities building block. And since, in any case, a perceived key activity may be outsourced through a key partnership, this building block may take longer to completely implement. A printing company, for example, may have a key partner that produces printing inks or digital tech products used for printing or it may be one of their main/ key activities. Nevertheless, even if this error is made, or if the printing companyâs purpose has changed and has begun to outsource their printing production/services, the business model canvas is adaptable to changes occurring both outside and inside the company.
















