By the BMC, any organisation’s business model – regardless of the sector, dimension of industry – can be formally reconducted to nine pillars. Since its publication, the BMC became one of the most reliable and mainstreamed tools in business management and entrepreneurship due to its user-friendliness, ease of use and adaptability to all scenarios.
The BMC is also conceived to be printed out on a large surface (see research section for the downloadable version). People can gather together to discuss and brainstorm about the many different ways in which each of the box can be filled in with ideas and inputs. This exercise strengthens participants’ critical thinking, creativity and lateral thinking.
In the context of this quest, you are requested to approach the BMC in the same way (you can use also the online format).
The BMC should be filled in following a specific order. The issue is that there is no such thing as a “standardised” order. Some might start from the left side of the model, some other from the right side. The fact that there is not a general consensus motivates the idea that there is not a “right” way to fill in the BMC: it really depends on the user’s perception and the overall flow of the brainstorming session.
You are free to stick to your own approach, however you might find useful the order that we suggest as follows below. In italic a series of guiding questions for you to use and orientate the focus of the discussion:
- Key Partners
- Who are your key partners?
- Who are your key suppliers?
- Which key resources are we acquiring from partners?
- Which key activities do partners perform?
- Key Activities
- What key activates do our value proposition requires
- What about our distribution channels?
- What about our customer relationship?
- What about our revenue streams?
- Key Resources
- What key resources do our value proposition require?
- Value proposition
- What value do we deliver to the customers?
- Which one of our customers’ problems are we helping to solve?
- What bundles of product and services are we offering to each Customer Segment?
- Which customers’ needs are we satisfying?
- Customer Relationship
- What type of relationship does each of our customer segment expects us to establish and maintain with them?
- Which ones have we established?
- How are they integrated with the rest of our business model?
- How costly are they? (or might be?)
- Customer Segment(s)
- For whom are we creating value?
- Who are our most important customers?
- Through which channels do our customer segments want to be reached?
- How are we going to reach them?
- How our channels might be integrated?
- Which ones are more cost-efficient?
- Cost Structure
- What are the most important costs inherent in our business model?
- Which key resources and activities are most expensive?
- Revenue Streams
- For what value are our customers really willing to pay?
How much they would prefer to pay?
There is not a specific timeframe to conclude this task: it can take hours, days or even weeks. Most of the information that you will need to fill in each BMC’s box can be traced back from the research and analysis you performed in Quest 1.
- 3.2) I can initiate simple value-creating activities.
- 3.6) I can develop a business model for my idea.
- 3.7) I can prioritise the basic steps in a value-creating activity.
- 3.13) I can combine different contributions to create value.