An innovative business model is crucial to success in the modern world. The Sta.RPerformining team of experts provides support whenever you need to design or update your business model. Our strategic management approach is based on the Canvas tool. In the hands of our experts, the Canvas tool can be adapted to your specific business scenarios and applications. We know how to take into consideration all critical aspects of your business and cover the soft spots.
When we apply the business model canvas, we focus on providing actionable guidance while staying oriented to your organization.
Key features and applicability
Using the Canvas tool for business models we divide a business into nine areas of interest which our team will research and optimize:
- Customer segments. As customers are the heart of your business model, specific segmentation is needed in order to know what kind of value you should propose to what categories of customer, the approaches you need to make in order to be able to communicate with those categories, and the relationships you need to build. Segmenting your customers means identifying common needs, jobs-to-do, common behaviors, and other essential attributes.
- Value propositions. These are the products and services that create value for a specific customer segment (which means you can need as many value propositions as you have customer segments). Designing the correct value proposition for your customers means identifying the needs they have that your organization can meet and giving them a reason to choose your company over your competitors.
- Channels.These are the paths to your customers. Our team will identify, assess, and establish the correct mix of media through which your organization can reach its specific customer segments.
- Customer relationships. Having established the customer segments that your organization is going to focus on, the needs you will meet, and the channels you will use to alert your customers to your capabilities, we analyze the expectations that each of your customer segments will have about their relationship with you and describe the actions you will need to maintain the relationships. This includes identifying key employees and the soft skills that they need to develop.
- Revenue streams. A critical area of your business model, revenue streams refer to the manner in which your company can leverage its customer segments in order to generate profit. In this phase we answer questions like “What are our customers really willing to pay for?” and “How would they prefer to pay?”.
- Key resources. These describe the most important assets required to make your business model work: to create and offer a value proposition, to reach markets, to maintain relationships with customer segments, and to earn revenues..
- Key activities. These are the most important actions your company must perform in order to operate successfully, using the key resources previously identified.
- Key partnerships. Companies cannot function without a strong network of partners for optimizing their business models, reducing risks, or acquiring resources. At this point, our team identifies the strategic alliances between non-competitors that you need to build.
- Cost structure. Last but not least, we thoroughly evaluate all the blocks of your new or updated business model and identify the operating costs for your business model.
Benefits and strengths
The Canvas strategic management and entrepreneurial tool will describe, design, challenge, and pivot your business model. It provides a representation of how your organization fulfils or can fulfil its ultimate goal of providing a desired return. The business model canvas as applied by the Sta.RPerformining experts has been adapted and tested by over 10 years of wide-ranging experience. The results allow you to scrutinize all the elements that compose your business logic in context.
Further, it is a hands-on tool which promotes understanding, discussion, creativity, and analysis, and involves actors from many levels of your organization.
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