Introduction to the Business Model Canvas: Solving a problem for Value-add
Starts: Wednesday, 18 October, 2017 05:00pm
Ends: Wednesday, 18 October, 2017 07:00pm
Do you have a problem that annoys you so much you are determined to solve it? The Business Model Canvas (BMC) was designed as an agile tool to identify persistent marketplace problems and solve them with a value-adding product or service. The creation of a Value Proposition is the first step in building a company and the first building block in the BMC. A simple template, BMC is an agile tool that can replace time-consuming and complex business plans. Its versatile nature is designed to accommodate the iterative nature of a lean startup company. Each block in the BMC represents a critical area of business development and provides a visual overview of the business model as it evolves.
In a 60-minute workshop, participants will formulate clear problem statements and address critical building blocks that enable a company to be born. By focusing on Key Activities, Customer Segments and and Relationships, we will examine how the market pulls demand for a product or service from a company and provides the opportunity to create value for the consumer. Understanding the very specific market that a company chooses to focus on will also help the company to understand its particular competitive advantage and unique selling point (USP). The workshop will explain these components at a high-level and use the BMC as a practical teaching tool for comprehension of company building at an introductory level.
Join MEST Business Teaching Fellow, Kerry Sinclair, on a walk through the fun and agile tool that helps so many entrepreneurs turn their ideas into companies. Come prepared with lots of questions as we go through the initial steps of creating value from an interesting problem to solve!