Building a Business Model Canvas - Your business or project idea on one page!
business·@thatsweeneyguy·
0.000 HBDBuilding a Business Model Canvas - Your business or project idea on one page!
### I've got big plans, and even bigger dreams... A handful of people know that I've been working on and off on an open world mmorpg that will talk to the Steem Blockchain. I've written posts in the past about kicking up my effort to add real and lasting value to this platform. I plan to begin a crowdfunding effort soon to allow me to turn this project's development into my full time job, utilizing new community efforts like @steemraise and @budgets. As a means of adding value to those communities, I want to share the work and research I'm doing that might help others looking to get a project funded. The first part of that research includes building a Business model. I've come across a cool concept called a Business Model Canvas. It puts everything on one, easily digestible page, and makes it quick and easy for potential investors, partners, or other interested parties to get a good idea of what your potential business/project is all about. This post will explain each block on the canvas, and how they relate to one another. <center>  </center> <center> [Source](https://strategyzer.com/platform/resources) </center> ___ # ~ Customer Segments <div class="pull-right">  Source: Pixabay </div> Lets' start with *who* your business/project is for. What types of people will likely use or purchase your product or service? In this section, you should be thinking about, if not creating, what are called [buyer personas](https://blog.hubspot.com/marketing/buyer-persona-research). These hypothetical, generalized, "customers" will give you (and anyone who reads your BMC) an idea of what the people you are trying to help or sell to actually want. You're going to be targeting your "Value Propositions" at these personas. ___ # ~ Value Propositions <div class="pull-left">  Source: Pixabay </div> What exactly will you be doing for the customer. What need are you fulfilling that would make your business/project valuable? What alternatives does the costumer already have, and what will your project do better? Why should someone buy from you, or use your service, rather than the competitor? You should be able to directly relate each proposition to at least one of your Customer Segments. ___ # ~ Channels <div class="pull-right">  Source: Pixabay </div> This is a list of channels you will use to provide the many aspects of your service or product. How do you plan to let your Customer Segments know about your Value Propositions? How do you intend to advertise? What channels/platforms will you and/or the customer use for making the business/project work? These are all different types of channels that need to be identified. The Channels and Customer Relationships blocks determine how you manage buyers/users, and how they interact with you. ___ # ~ Customer Relationships <div class="pull-left">  Source: Pixabay </div> How do you intend to guide the customer? Will you offer support of any kind? How will you do these things? How you interact with both potential costumers/users and those who have already purchased or are using your product/service is a key part of any business. These methods need to directly relate to your Value Propositions, and how you plan to follow through with them to your Customer Segments. ___ # ~ Revenue Streams <div class="pull-right">  Source: Pixabay </div> Revenues are the lifeblood of any business or project. In this block, you will need to explain how your project will generate money to stay alive. These revenue streams should directly relate to your Customer Segments and Value Propositions, as this is where those revenues are going to be coming from. Revenues are pretty self explanatory, and I'm not here to explain the best methods of monetization, but rather how those revenue streams should relate to the rest of the canvas. This is one of the key components that potential investors will be looking at. If you're not sure how you plan to create value, which to an investor means profits, you're unlikely to succeed in getting funded. ___ # ~ Key Activities <div class="pull-left">  Source: Wikimedia Commons </div> Here's where we start to get into the "meat and potatoes" of your idea. How exactly will you deliver on your propositions. What will you need to do or maintain to make the business or project continue to work? Activities should be tied directly to your Value Proposals, and will explain how you will execute your idea. ___ # ~ Key Resources <div class="pull-right">  Source: Pixabay </div> These are the things you will need to make your Key Activities work. Think about what types of products or services you may need to buy/use, and what human resources are required to make it function. These are directly related to your Key Activities and Value Propositions, but will also tie into your Cost Structure, which we will cover soon. ___ # ~ Key Partnerships <div class="pull-left">  Source: Pixabay </div> What is not absolutely crucial to your core strategy? Is there something that a partnership might help you with? What partnerships could help you focus on your business/project, while benefiting said partners? What benefits would said partnerships provide? These should relate to Key Activities, and how they rank in terms of priority to your Value Propositions. ___ # ~ Cost Structure <div class="pull-right">  Source: Pixabay </div> What costs will be involved with your project? How they relate to the way your Value Propositions determine Revenue Streams? What costs associated with your business/project will remain fixed, and which costs will need to increase as you scale up? These are all things to consider when balancing costs with revenues, and you will need to look at the long term just as much as the short. ___ <center>  </center> You should now be able to flesh out a business plan, and lay it all out on one page so it's easy for people to understand what your intentions are. I hope this post will be helpful to anyone thinking about starting up a project on the Steem Blockchain. We have an amazing community here, and the more uses we can find for our platform, the higher STEEM will push in value. If you enjoyed this post, consider upvoting and/or resteeming it. I try very hard to deliver quality, original content, and often my posts fly under the radar. I'm still a growing minnow, and I could use all the help I can get! Now that I've gotten that out of the way, you have yourself a wonderful day! ## <center> Ready to learn more? Checkout my recent post about </center> ## <center> [A Galactic Fender Bender](https://steemit.com/science/@thatsweeneyguy/super-cool-science-s-t-7-a-galactic-fender-bender)! </center> <center> [](https://steemit.com/@thatsweeneyguy) </center>