BU121 Lecture Notes - Lecture 2: Business Model Canvas, Date Night, Value Proposition
Document Summary
Understand the context and recognize that your business is operating in a dynamic world and the resulting implications for your model. Prototype your business model canvas think and create visually, be fluid. Gain customer insights and build on them to improve your business model canvas. Understanding the context (think of pest, porter"s, etc. ) Tell the story (presentations: key trends, market forces, macro-economic forces, industry forces. Prototype your canvas: think and create visually, use sticky notes, lots of visuals, few words, meaningful, impactful words and relationships, think about colour coding, etc. readers. Multi-sided customer segments mean that they are interdependent ex. This should drive your building blocks, specifically rs of canvas: value proposition must be tailored to meet needs of customer, ask what if? questions, be prepared, stay focused, defer judgment, think and create visually. Value proposition design: the set of value proposition benefits attract customers, they must fit with the set of customer segment characteristics, refer strategyzer link on slide!
