Class notes
BU121 - SI Session - Week 4
- Course
- Bu121 (BU121)
- Institution
- Wilfrid Laurier University (WLU )
BU121 - SI Session - Week 4
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BU121 - SI Session - Week 4The Business Model Canvas
● Does a business = Idea?
○ No
● A Business = an idea put into action
● A business model helps transform your idea into a business
What is a business model?
● How a company creates, delivers, and captures value
● How a business makes money
● Store your business tells
● Modelled by the business model canvas
Creates Value
● Value propositions
● Channels
● Customer relationships
Delivering Value
● Key partners
● Key activities
● Key resources
Captures Value
● Cost Structure
● Revenue Streams
Business Models as Stories
The elements of a good story
● Precisely described characters
○ Who are they, what are their purposes
○ Who am I
● Plausible motivations
○ Bigger purpose than just making profit
● A plot that twists
○ Unique
○ Creative marketing
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