BUSINESS MODEL CANVAS (BMC)

It is a business tool used to visualize all the important strategic factors when you want to establish a business. It provides a complete overview of the company’s customers, market, finances and more.

It outlines the requirements for the products or services the company intends to sell, identifies the target market, the financial resources, and the role the company’s products or services will play in meeting those requirements.

The Business Model Canvas consists of nine essential parts: Customer Segments, Value Proposition, Revenue Streams, Channels, Customer Relationships, Key Activities, Key Resources, Key Partners, and Cost Structure. Through these nine steps, it provides a clear overview of how a company creates value and how it plans to (partially) capture that value.