A complete guide to developing a business model canvas (BMC) with example (Part 1)
Are you an entrepreneur struggling to understand the business model that fits you? This is the go-to tool for you. BMC is a tool developed by Alexandar Osterwalder and it will guide you to understand how to create, capture, and deliver value with your business to the consumer. But first, you need to be clear on the value you create. So before you jump into the BMC, it is important to understand your value proposition. It is getting complicated now? Not really, there is a tool for this too. The value proposition canvas (VPC). Let's start. What is VPC? Look at the chart, there are two sides to the VPC. Let’s look at the client profile. This side of the VPC discusses your consumer. It is broken down into 3 main parts: pains, gains, and customer jobs. Pains are the problems or unpleasant situations customer experience. Customer job is the solution you offer. Gains are the desired outcomes that are more than expecte...