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Homework answers / question archive / Project #1: Business Model Canvas 150 pts 2021FS-ENT-315-0016 Description For this project, you will develop a venture idea and use the Business Model Canvas method to map the idea (there is a blank BMC in posted in this week's module)
Project #1: Business Model Canvas 150 pts
2021FS-ENT-315-0016
Description
For this project, you will develop a venture idea and use the Business Model Canvas method to map the idea (there is a blank BMC in posted in this week's module). You will further develop this business idea in subsequent projects. I recommend choosing something that interests you, although the quality of the idea itself will not be graded since this class is focused on the process of developing an idea/mindset (in other words, you may choose something as simple as a coffee shop or accounting office, although I think you'll enjoy the project more if you are creative). If you're struggling to think of an idea, I suggest you consider something you are passionate about - sports, video games, fashion, food, etc. - and try to identify a problem, inconvenience, pain point, etc. in that industry.
I recommend spending a lot of time on considering a very specific customer segment and value proposition for that customer segment (for instance, "Adults 18-65" and "good quality" are not very good responses because they don't help you to think about how you move forward with your venture idea). For a higher grade, you will need to give plenty of detail (for instance, under Key Resources it would be better to see "$10,000 for marketing" that "startup capital"). I have provided an extra lecture by Dr. Ali about how to complete a useful BMC. You will find that most of the work is in thinking and researching - there is no need for your actual responses to exceed more than a few lines in each
