Startup should learn and use Business Model Canvas

The Business Model Canvas (BMC) is one of the most popular & powerful business models template it enables startup and Business to see how the building blocks are interrelated. Business Model Canvas were initially proposed in 2005 by Alexander Osterwalder based on his earlier work on business model. This Business Model Canvas provides a view of startup business while focusing on the most critical elements . This provides insights about the customers you serve, the value proposition offered and how your ventures plan to makes money. This tool is the visual representation . This covers the major consideration impacting your ventures and shows the direction your venture is moving forward. Startup should learn how to fill all nine boxes.

Key activities: The most important activities in executing a company's value proposition.

Key resources: The resources that are necessary to create value for the customer.

Key partnerships: In order to optimize operations and reduce risks of a business model, organizations usually cultivate buyer-supplier relationships so they can focus on their core activity.

Value propositions :The value propositions may be:

• Quantitative – price and efficiency

• Qualitative – overall customer experience and outcome

Customer relationships: To ensure the survival and success of any businesses, companies must identify the type of relationship they want to create with their customer segments.

channels, customer segments, cost structures and revenue streams are others boxes.

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