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This talk is part of the free MaRS Entrepreneurship 101 series (webcast and in-person session every Wednesday). Feel free to share this! You can credit it as (c) 2012 Sacha Chua under the Creative Commons Attribution 2.5 Canada licence. Click on the image for a larger version of sketchnotes.
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MaRS ENTREPRENEURSHIP 101. NOV 29, 2012 : # ENT101
BUSINESS MODEL CANVAS
Not a static business plan
Learn - Idea - Build – Code - Measure - Data
Business Model Canvas
1. Who do you serve <- specific, self-referencing
2. What problem do you solve? Value proposition
3. How do people find you? Channels
4. What types of relationships do you have w/customers?
5. How do you get paid ? Revenue streams
6. What things do you do? Key activities
7. What resources do you need? key resources
8. What else do you need? key partners
9. What does it cost to operate this model? –> key levers, not all costs; Cost structure
Single-serve coffee cups
1988 … flopped
machine from coffee
Was wildly successful
Made Sold Sales Training Coffee Sales
3rd parties Independent retail Nespresso Direct to consumer
30% compound annual growth rate! –> 20 billion capsules!
Read the Lean Startup: Innovation accounting
Great way to communicate with your team, too. Whiteboard!
What did we do before? Colour-coded Post-its
Draw this & test your assumptions,
box by box
Coffee machine makers
brand patents factories
Marketing production logistics (NEW)
Restaurant quality espresso at home
Retail Nespresso call centre boutiques
High end households
Distribution and sales
Fit your value proposition on a Post-It
Whiteboard + Post-Its = awesome
Great for talking to other people
(potential team members, cofounders, staff)
When you’ve got it mostly figured out, make it visual!
but don’t let pretty pictures
stop you from changing it!
Books to Read
Business Model Generation (& lean startup)
Q: Business plan vs model?
A: Depending on investor. Concise summary / outline in business model canvas + spreadsheets, plan.
A: Lean canvas may be better for some. Defensibility not particularly called out in the canvas
Q: Nespresso pivoting?
A: Customer research, etc.
Q: Very general?
A: Most startups aren’t killed by competition –> usually other reasons. Try making for competitors too?
Q: Evaluation tips?
A: Validate each of the boxes. Canvas can’t tell you if something is a good idea or not
A: Be objective about what you put on the business model canvas. change after experiments
Q: Reminder why you’re doing this value?
A: Yes, that’s part of it! Jolts you out of =(