Imagine you are finally going to start the business you have always dreamt about. Writing a Business Model Canvas would be your first step. Fill in the attached fillable Business Model Canvas using the two guidelines provided. You can also surf the internet for other resources on how to build a business model canvas.

Your Guide to the Business Model Canvas The Business Model Canvas (BMC) is a tool to help a new or existing businesses develop their business model. It acts as a snapshot of your business, encompassing elements of the business plan, to help you and others understand your business and the value it provides.

Instructions: Start with the Value Proposition located in the middle of the BMC and work your way around clockwise. Value Proposition: What does your business do that adds value to the customer? What is the problem or pain point that your business solves? What makes you unique compared with businesses who may be providing a similar product or service?

Customer Segments: Identify your target market(s). Are you serving other businesses (B2B), or do you sell directly to the end user (B2C)? Your targets may be a combination of both. Describe the demographic (age, gender, location, income levels, etc.) as well as the psychographic (attitudes, beliefs, purchase motivators, world views) factors of your target market(s).

Customer Relationships: How are you going to initiate, build, maintain, and cultivate your client relationships? Talk about how you will source client prospects and the steps you will take to nurture these relationships and facilitate repeat business. Distribution Channels: How does your product or service meet the client? Consider methods of delivery and the location of sales. Revenue Streams: How does your business generate revenue? Describe your services and/or product lines. Cost Structure What are your expenses, production costs, and profit margins? Consider your overhead (rent, utilities, licensing fees, and other maintenance) as well as your production cost per unit. Exact dollar amounts are not needed, but you may use them if you know what the dollar amounts are. Key Partners: Identify the people and organizations you will need to work with to be successful. Identify your suppliers, wholesalers, retailers, and any other partner that will play an important role. Key Activities: What are the most important tasks that need to be done for the launch or expansion of your business? Think of high-level tasks such as securing a store space, purchasing necessary equipment, acquiring licenses, initiating relationships with your key partners, etc. Key Resources: What are your business's most important resources? Identify the tangible and intangible things that are crucial to your success. These could be you tools, intellectual property, and key partnerships with other organizations.