Lesson 8: Business Model Canvas 43 min.
In this lesson, you will deep dive into how to you can use the canvas to describe, design, challenge, and pivot your business model. It works in conjunction with the Value Proposition Canvas and other strategic management and execution tools and processes.
Lesson 8.1
Business Model Canvas Explained
Push your business model further with a comprehensive lecture on the BMC developed and explained by Alexander Osterwalder.
43 min.
Lesson Notes
Previous business model of selling the photocopying machine had no market because it was so expensive
They changed the business model to leasing the machines out with 2000 free photocopies
This changed the photocopying industry.
Google’s model was free but they monetized search engine keywords
What they had in common
– innovation alone was not sufficient
– Combination of innovation and business model that allowed for their success
– they didn’t copy from their competitors, they made new business models
– they had to take some risks and experiment
How to discuss business models
– Nespresso sold cheap machines with expensive disposables
WHich customers are you serving?
– newspaper: readers and advertisers
– They will have different value proposition
– How do these audience want to be reached?
– Customer relationship
– What are the revenue streams?
– what are the key resources
– Key Activites
– Key Partners