Leveraging the blue ocean strategy, write a brief response that describes what makes your selected product or service unique and how it will provide a strategic advantage in the marketplace.
[Insert response here.]
Key Business Model Questions: The Customer
Write a brief response to the following questions.
- How do you acquire customers? [Insert response here.]
- How do you deliver the product/service to the customer? (Note: This is the Channels section of the BMC chart.) [Insert response here.]
- After you have landed a new customer, how do you plan to relate to that customer and manage the relationship (if at all)? (Example: customer service) [Insert response here.]
- How will you charge your customers? What is your revenue model? [Insert response here.]
- How much will you charge your customers? Can you calculate your revenues for the next month, quarter, and year? [Insert response here.]
- What key activities do you need to engage in to deliver your value proposition? [Insert response here.]
2: Key Business Model Questions: Assets, Partners, and Cost
- What assets are available to you or under your control? (Refer to the company’s SWOT analysis.) [Insert response here.]
- Who are your key partners? [Insert response here.]
- What are your cost structures? What will you need to pay for in order to create the product/service? (Example: What do you need to pay for to create your unique value proposition?) [Insert response here.]
4: Consider Your Business Model
• Based on the BMC chart, does it make sense to proceed with this new product/service? [Insert response here.]
• What are the risks to your business model? For example, do you have the right relationships with suppliers and partners to create the value proposition and bring it to market? [Insert response here.]
• Are there things that can or should be changed to strengthen the business model to reduce its risk? (Refer to the SWOT analysis.) (Example: having multiple suppliers to protect the project) [Insert response here.]
• 5: Clarify Your Business Model Assumptions
Check each response in your previous BMC chart against the following criterion:
• How do you know that what you wrote in each block is true? Have you made an assumption, or do you have solid evidence in the form of documented facts (based on research)?
Using the table on the next slide, list your assumptions and fill in the relevant information as follows:
– Where you have facts, write the evidence in the “Fact” column.
– Where you have made assumptions, check the “Assumption” column.
The table will help you identify where more research is still needed to address your assumptions.
6: Clarify Your Business Model Assumptions, Continued
List and categorize your assumptions about your business model below. Use as many lines as you need.
BMC Chart Item in Question This is a fact, here is my evidence: This is an assumption
7: Prepare to Meet Customers
Create a checklist of the materials you will need for your customers from the points below by highlighting the items that apply. (Note: not all may apply.) Add materials as needed. Please include the necessary items in your updated BMC chart.
• Sales materials
– Customer presentation
– Marketing plan
– Sales process description
– Acquisition of customers
– The sales process (for example: website sales)
– Pricing options: single-priced product or service vs. multi-tier pricing
8: Update Your Documentation
Create your positioning statement using the following template bullets. Note: these are typical funding questions.
• The product/service is targeted to… [Insert response here.]
• The type of value our product/service delivers is… [Insert response here.]
• Our product/service is unlike others because… [Insert response here.]
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