Business model canvas!! Sounds like nuclear physics doesn’t it?
A business model canvas is a tool used by businesses to project what their business is all about briefly.
In contrast to business plan, a business model canvas is so brief .
At the end of this article, there is a template attached, feel free to use it after you have read this article .
Now remember the way you create a business model canvas is very systematic . We have numbered this template to make it a ride on a steep slope.
1. Customer Segments
( WHO ARE YOU TARGETING) Think of your business, very few ( if there are at all) businesses target everyone. Describe your customer. Who are they? What do they want? What do they like?
How old are they?
( WHAT IS YOUR PRODUCT OFFERING THEM)
Say you are a coffee shop. Coffee is coffee. If I sell mine packed in an ordinary cup and yours is in a instagram worthy cup. We know why millenials would buy from you.
The Unique value is not always tangible.
Sometimes it is a cause. If part of your profit goes to charity, people may use it for that sake.
Now that you know who you are trying to sell to and what is special about your product .How are you going to get to them ?
Instagram? A physical shop? An event?
Depending on what they do, find out the different ways they can access your product.
To gain a customer is one thing . To keep a customer is a whole different entity. There are shops you go to buy something and the way a seller accomodates you, focuses on making sure you leave satisfied and not just selling you a product gets you hooked. These are the shops people go back to and tell all their friends about.
5. Revenue sources
What are your customers going to pay for? These are the different services or goods you can offer. Say you sell clothes , you could also charge for styling advice or makeover. How can your premises generate you money as well? Can your office be rented fr a day or a week or more?
Exhaust the different ways you can access money and find out ways that match your cause. For example safe space doubles as a women platform and a women co working space .
These are the things you need to do . If you are running a website, you need things like hosting, writing, photography etc.. . Include everything you have to do for your business to run and
Determine what you need to get the activities done. Funds? Space? Time? People?
Patnering is the new discount. You do not need to have everything. But you can out source what you have and use it to negotiate.
Patnerships helps cut cost and share audience .
9. Cost structure
Now that you know what you will need to run the business, areas you can find partners in , list the things you will incur cost in.
HOLIDAY ACTIVITIES FOR ALL UNIVERSITY STUDENTS
Holiday time ,
A time we have been looking forward to since school started! Blink and share this post if you can relate!
I am a big pro-balance , i believe in late nights, early mornings and coffee but i also believe it is essential to lay back in the Bahamas and have someone bring you a Cool Mojito . So what do you do when you have a month or two of rest. Read On.
A bit Clichè right? But how many of us actually rest at least half of the time during the holiday?
While it is sometimes inevitable to reply that email, Attend that client, making time to take care of you, catch up on your favourite tv show or just sitting and breathing helps clear your brain and make you even more productive.
2. Learn a skill.
What a time to be Alive! Your next skill is literaly a few taps away. This skill can be a hobby you have been looking to get better at like sewing, singing, piano , cooking or something intergral in your career like history taking for new clinical rotation students or something you have wanted to do on the side( you have been talking about how you do not have time, and now Its here! ).
One of the founders of Afyatoon , an animation start-up that provides health education actually learnt how to animate during his summer holiday.
There are some things that are not taught in school and you are probably struggling with such as speaking in public , budgeting , dressing well, healthy living & more. Take time to train yourself on that.
3. Work on your side hustle
Balancing between studies and work is a challenge. Sometimes they are all demanding our time and energy. The holiday time therefore is a great time to focus on this thing , give it a mega push and this push will even save you the hustle when school starts.
4. Learn, explore and grow.
It is really eye-opening to learn a new thing or get to understand a certain topic . This can be a great time to do that. There is vast majority of knowledge and information on blogs, social media and in the actual world for you to learn .
Be curious, google , check out some you tube videos . But most of Enjoy your holiday .
What are you doing this holiday?
Twentiesco consultation doors are open! Book your consulation today and lets walk this adulthood journey together.
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