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Read “The Value Proposition Design Ch

Business

Read “The Value Proposition Design Ch. 2.5”

Building on your designed value proposition(uber one) and customer segment(s) from the previous assignment, map out the remaining business model elements using a Business Model Canvas and sketch out the rough numbers for revenue and cost. Aim for 3+ sticky notes per area and be as specific as possible.

This will include:

Describing the revenue model, selecting distribution channels, defining the relationships that could be adopted with customers

Listing key resources, key activities and partners required for the model to work. Use this to estimate the cost structure

Assess and detect possible weaknesses of your business model. Ask yourself how you could improve or change your initial value proposition by answering the following 5 questions:

Could there be another radically different value proposition for the same tech?

Will you keep the same customer segment, or will you shift?

Do you need to change or clear the benefits created?

Do you have fit?

Can you refine your customer profile?

Additionally, ask yourself the following 7 questions to assess your business model design:

How easy or difficult is it for customers to switch to another company?

Is every sale a new effort or will it result in quasi guaranteed follow-up revenues and purchases?

Are you earning revenues before you are incurring costs?

Is your cost structure substantially different and better than those of your competitors?

How much does your business model get customers or third parties to create value for you for free?

How easily can you grow without facing roadblocks (e.g. infra, customer support, hiring)?

How much is your business model protecting you from your competition?

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