14.4 final business plan
Learning Goal: I’m working on a management question and need an explanation and answer to help me learn.
Recap – Business Model Canvas:
The Business Model Canvas gives you the structure of a business plan without the overhead and the improvisation of a ‘back of the napkin’ sketch without the fuzziness (and coffee rings). The Canvas has nine elements. Together these elements provide a pretty coherent view of a business’ key drivers
Throughout the term, you’ve gone through each section of the business model canvas and identified each area of your business. Now, you’ll use that information to write your final business plan. Take into account any changes or new ideas you’ve had from your assignments and work during this semester.
Here’s a refresher on the Business Model Canvas and the 9 elements:
For this assignment, you’ll create either a written essay OR a video presentation of your business plan. It is your choice. Your plan should include the following:
- Customer Segments: Who are the customers? What do they think? See? Feel? Do?
- Value Propositions: What’s compelling about the proposition? Why do customers buy, use?
- Channels: How are these propositions promoted, sold, and delivered? Why? Is it working?
- Customer Relationships: How do you interact with the customer through their ‘journey’?
- Revenue Streams: How does the business earn revenue from the value propositions?
- Key Activities: What uniquely strategic things does the business do to deliver its proposition?
- Key Resources: What unique strategic assets must the business have to compete?
- Key Partnerships: What can the company not do so it can focus on its Key Activities?
- Cost Structure: What are the business’ major cost drivers? How are they linked to revenue?
MY BUSINESS IS A MED SPA****