The Business Model Canvas

Learnings

What is Business Model Canvas?

By watching the facebook video about Business Model by Center for Entrepreneurship & Technology on Facebook Live | Facebook, we have learned about the Business Model Canvas, its uses, sections, and how we make our entry or statement per cell.

The Business Model is about how a company creates value for its products or services they deliver to their customers. The Business Model Canvas helps them make and keep customers, as well as spread more about their product or services by their customers through recommendations and other ways.

Business Model Canvas consist of Value Proposition, Customer Segments, Channels, Customer Relationships, Revenue Streams, Key Partners, Key Resources, Key Activities, and Cost Structure. Each segment have their own statements created by the business to keep track of what they need to improve and what to keep.

Principles of Design

In “The Principles of Design” by Center for Entrepreneurship & Technology on Facebook Live, it is discusst that there are two types of design approaches: Product approach (UX) and Aesthetic approach (UI). UX applies to both Physical and Digital products while UI only applies to Digital Designs. Each one of them have their own focuses, process and considerations of creations, and how they result.

The lecture mentions about how a product will succeed (by ease of access, usefulness, and convenience. The product also needs 5 things for it to be easy to use: Effectiveness, Efficiency, Engagement, Error Tolerance, and Ease of Learning. The importance of balance in design is also being mentioned to make it easy for users to find what they’re looking for.

Business Model Canvas

There are only slight changes in our VPC chart from our prior input, as we have covered most of what’s needed to be written.

Business Model Canvas

After learning from the materials provided to us, we managed to create a Business Model Canvas, this looks like a blueprint of what’s expected to do to help our target customers, which are researchers, make their jobs easier to do.

Interview Details

We managed to interview one of the students in Civil Engineering Department about their problems in their academic research. It appears that there’s only a few of them that have this kind of problem. We’ll dig into it more as we interview more people.

Company Profile

Our initial company profile includes our startup overview, the issues we aim to address, the solution we intend to implement, achievements, desired partners, target market, team members and our contact information. This will help others who are interested in our startup know what our team is about, how our team works, how we intend to make our startup successful.