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Business Intelligence
Business Model Canvas
The Business Model Canvas is a tool to help you visualize and summarize your business model. It is only a model and the intent is that it will prompt you to explore areas you need to understand better and it will help summarize your findings. It is not a complete replacement of a business plan, rather it is a supplement to it because business plans are lengthy and more challenging to keep updated. The key idea is that the BMC keeps you moving forward and gathering data. It's not meant to stay on a shelf and gather dust. The work is never fully complete.
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Do First
You should complete the following tasks before proceeding to the current one.
Traditional Market Research
As a new business we need to research the market to understand our customer, channels, competition and how we'll respond. You may be searching for data and statistics to substantiate your position and use in your spreadsheets. Key things to keep in mind are:1. Don't buy or pay for statistical or market data2. Reports, white papers, webinars, podcasts that certain companies produce may be misleading � they have their own bias. You can use them but be cautious.3. If you download free reports, look for the sources cited at the bottom on the page or near the end of the document. Often these links can lead to source data which is more valuable4. Look for government data such as BLS, NIH, CDC, SBA a. Government data can be a little older, but it's trustworthy5. If you are a student, you may have access to sources such as Nielsen and Nexis. Check with your teachers, librarians and even the public library6. Look for local data at your chambers of commerce, trade organizations, and municipal offices.7. You can look for surveys, customer panels, and other group data. Sometimes you can find amazing things simply searching on Google, so long as you are mindful of the source and that it is reputable. !!! The big caution is as you gather data about your market, don't hide behind the computer screen. Get out and talk with potential customers as often as possible. There is no substitute for primary research where you are in front of people and testing what they say vs. what they do.
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Small Business Marketing 101: Using Email, Social, Video and More
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Tasks Within the Stage
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Keep Moving Forward
Don't stop now! Just pick the very next stage-card that resonates with your business and continue working on the correspondent tasks.
