Define an individual business strategy

Proper use of the Business Model Canvas

The management tool is based on nine individually editable blocks of text that describe the entire business model. For better visualization, it makes sense to draw the blocks on a poster. Then paste the ideas onto the corresponding canvas using post-it notes. For a detailed explanation of this management model, we recommend the book "Business Model Generation" by Alexander Osterwalder.

1. Customer segments

The most important question is, "Who is my target audience?" By this we mean customers (preferably paying), users, subscribers-in short, any person or organization that sees value in your product or service. Only when you have clearly defined your target group will you develop your business model.

The questions you should ask yourself, "For whom am I creating value with my offering? Who are my most important customers? "What should be in this box: a list of people (groups of users with certain characteristics and usage behaviors) or customer segments. Ideally, prioritize them.

2. Value proposition

In the second step, you assign a value proposition to each customer segment. This should be perfectly aligned with the needs of the customer segment.

The questions you should ask: "What problem do these customers want a solution for? What benefit/value do I offer the customer? What customer needs do I want to satisfy? What combination of products and services do I offer the target groups? "What should be in this box: value propositions (with priorities) linked to appropriate people or customer segments.

3. Channels

Now define what sales and communication channels you want to use to engage with your customers and provide them with that value. The questions you should ask: "Where or through which channels do I reach my customers? Which channels work best? How can the different channels work together to attract the customer to me?" What should be in this box: a list of important channels, each connected to personas or customer segments. You should make additional notes on how and when these channels become relevant to users (keyword "customer journey").

4. Customer relations

The fourth segment focuses on the form of relationship you want to maintain with your customers. The questions you should ask: "What kind of relationship am I cultivating with customers? What am I doing to build, maintain and expand the relationship? Does the customer relationship form fit my business model? "What should be in this box: A description of customer relationships, should mark the differences between customers separately.

5. Sources of income

Answer for yourself how you want to generate revenue. This is where pricing strategies come in: "How much would my customers pay for the benefit they get from me? Are there comparable products/services? What do the revenue streams look like? How much does each revenue stream contribute to total revenue? " What should be in this box: a list of revenue streams, ideally linked to personas, segments, or value propositions.

6. Key resources

In this field, indicate what resources and infrastructure you need to deliver your product or service.The questions you should ask yourself are, "What resources is my value proposition significantly based on? What key resources do I need to provide value to the customer? What resources do my distribution channels, customer relationships, revenue sources have? "What should be in this box: a list of key resources related to your value proposition.

7. Key activities

By key activities, you should think of all the fundamental activities that are required to be able to deliver your product or service. The questions you should ask yourself, "What activities do I need to do to meet the customer's value proposition? Which activities are needed for sales channels and which for customer relationships? "What should be in this box: a list of key activities related to your value proposition. They are also linked to key resources.

8. Key partners

Do you need to draw resources from external suppliers or outsource some activities? Questions to ask: "Who are my key partners, who are my key suppliers, what key resources/activities do the partners depend on? What should be in this box: a list of key partners. The connection to key activities should be considered.

9. Cost structure

Finally, consider your startup's financial plan: "What is the cost structure according to the plans? What are the key resources or activities that generate the costs? What should be in this box: value propositions (prioritized) linked to the right people.