Business Model Creation

Learn Components and Creation Steps of Business Model

Entrepreneurship & Startups 4.7(89)2h 32m13 lectures2 sections

What you'll learn

Understand the business plan and feasibility study
Learn the shape and components of a business model
Define the value proposition
Define the target segment
Build customer relationships and communication
Identify revenue streams
Understand the cost structure
Understand the project and product life cycle and create the business model

About this course

This course teaches you to create a business model for your project or idea: a complete picture of how your business offers value to customers and earns income. You start with the course introduction, then the business plan and feasibility study, the shape of a business model, the value proposition, the target segment, and customer relationships and communication. Next you learn the summary and revenue streams, the cost structure in two parts, the question of what comes next, and the life cycle of the project and the product. The course ends with a practical application that builds the business model step by step, with downloadable work files. It suits entrepreneurs, people with new ideas, small business owners, management students, and anyone who wants to organize an idea before starting. You need no previous business experience, because every element is explained from the basics with clear examples. By the end, you will be able to define your value proposition and target customers, work out revenue and costs, and build a written business model for your project.

Expected outcomes

Ability to design a professional and integrated business model.
Prepare a clear plan for revenue sources and cost structure.
Effectively analyze customers and the market to support project decisions.
Develop a business model that contributes to project sustainability and success.

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Course content

Creating a Business Model

12 lectures

Course IntroductionIntroduces the goals of the Business Model Canvas course, explains the business model as a sheet that organizes an idea and clarifies its value, and who presents it and to whom.4:53
Work Plan and Feasibility StudyDistinguishes the business model, feasibility study and business plan, and stakeholders from shareholders, explaining that feasibility assesses economic success while the business plan details execution, risks and financing.9:35
Business Model ShapeExplains the circular relationship between the business model, feasibility study and business plan, shows the canvas layout, and where to start, with customer segments or value, depending on company strategy.14:16
Proposed ValueExplains the value proposition and how to discover it through customer and competitor feedback, market and R&D research, and analysis of pains, gains and customer jobs, with examples like cloud storage and product updates.18:24
Target AudienceExplains the target customer segment and ways to divide it by gender, religion, nationality, geography and behavior, and how the segment shapes the product and how it is presented, with air conditioning and telecom examples.15:44
Client Relationships and CommunicationExplains communication channels and customer relationships across the awareness, evaluation, purchase, delivery and after-sales stages, their link to the product life cycle, and the need for clear return and exchange policies.13:26
Summary and Sources of IncomeExplains revenue streams in the business model as broad lines without financial detail, such as direct service income, side sales, commissions and returns, and summarizes the first half of the model and the importance of bold decision-making.10:03
Cost Structure Sources (Part One)Reviews the first half of the business model, then starts the other half with key activities, the processes behind delivering the product, noting their importance varies by product, such as phones versus cars.7:28
Cost Structure Sources (Part Two)Explains key resources already held by the company or its partners, key partners and outsourcing, the cost structure hidden from the customer, and adding a risk reserve percentage.10:37
What's Next?Explains what follows the first draft of the business model: brainstorming and discussing it with relevant departments such as sales, purchasing and IT, adjusting the cost structure, and agreeing on the final form.13:27
Project and Product Life CycleExplains the four stages of the product life cycle from launch to market exit, the project life cycle including handover and releasing resources, cost and revenue curves, the break-even point, and where the business model fits.15:56
Creating a Business ModelA hands-on build of a business model for a social media store selling children's clothing, with the value of specialization and fast delivery, plus activities, resources, partners, and the buy-or-rent warehouse decision in the feasibility study.18:11