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  • Writer's pictureAparna Gayatri Devagiri Sriram

Episode 14: Business Model Canvas - moving from a business idea to a viable plan

Welcome to another episode of Her Business is Our Business where we, Gayatri and Aparna look at Women Entrepreneurship beyond funding – sharing expertise, experiences and tools to grow your business.

In this episode, we discuss and explain in detail about a tool that is paramount to any Business, the Business Model Canvas (BMC).

We start by explaining what a Business Model Canvas is and its important elements. Gayatri then shares some insights and experiences from a Business planning workshop she led recently. We also share some ideas on resources that can help you build the BMC.

Key takeaways:

  • Key aspects of a business are partners, customers, revenue and costing.

  • Business Model Canvas is a strategic management and lean startup template/ tools for developing new business models or documenting existing ones.

  • It is the cornerstone of any business and an essential tool irrespective of the size or nature of your business.

  • Critical elements of BMC are the Value Proposition of your business & Customers/ target audience description.

  • Once the Value proposition becomes clear, everything thing will fall in place.

  • From the BMC evolves your daily plan and activities. It helps you prioritise.

Tips for entrepreneurs:

  • Set time aside, clear your calendar and focus on building this

  • Read the structure, work on it and not worry about how it shows you

  • Check your BMC 2-3 times a year and make minor tweaks if required

  • If you make any changes, ensure you go through all the squares on the BMC and see if they align

  • Many resources are available in the form of apps, blogs, software, books, case studies that can help you build the BMC

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