The following application exercise is designed to help you begin to use the BMC tool by translating an existing business into the BMC framework.

Most of you are familiar with Airbnb. This company is a relatively new entrant into the travel and hospitality space - it allows individuals with homes/condos/apartments to rent out those spaces to travelers. If you are unfamiliar with the company, click on the following link to explore the service: https://www.airbnb.com/Links to an external site.

For today's exercise, take a stab at filling out a BMC for Airbnb. What are the important elements of their business model? What do you think their primary costs are? Their revenues? What customer groups are they targeting? What is the key value they are providing? Etc. Remember, Airbnb is a dual-sided platform, meaning their customers include both the paying traveler as well as the hosts who are making their properties available on the site.

Value

Channels

Customers

Customer Relationship

Revenues

Costs

Key Resources

Key Activities

Partners