Building The Business Model Canvas

This is such an exciting part of our class - After the quiz, you will be given the remainder of the period to work on your business model.  I truly cannot wait to see what you create!!!

EQ - How can I apply my understanding of the Business Model Canvas to create my unique business model?

1. Activator: Review your notes
2. Quiz
3. Create the elements of your business model
1. Channels, Customer Relationships, Revenue Streams
1. Compose a description of each on the lined side of your note cards
2. Illustrate (by drawing) each on the opposite side of the notecard
4. Update your Business Model Canvas
5. If time permits
1. Visit www.Entrepreneur.com
2.  Choose and read at least one article of interest
3. Summarize on a sheet of paper and we will discuss this Tuesday

Revenue Streams

EQ - How are the types of revenue streams differentiated?

1. Introduction to Revenue Streams
2. Independent Reading for Understanding *The substitute will provide you with a handout*
1. Define Revenue Streams
2. Analogy to Heart
3. 8 Major Types
4. Key Questions to Consider
5. Ways to Generate Revenue Streams
6. Compare Pricing Mechanisms
3. Compare your notes with a classmate
   
4. Knowledge Check

Channels and Customer Relationships

EQ - How does the right mix of Channels help bring a value proposition to market?

1. Activator: Team review of Channels
1. Purpose of 
2. Types
3. Stages
2. Discussion: How does Apple demonstrate the effective use of channels to deliver its value proposition?
   
3. Choose a product and identify each phase of the company's channel.

EQ - What motivates customers to establish a relationship with a company?

1. Introduction to Customer Relationships
1. What?
2. Why?
3. How?
2. Discussion Question:  Look at the motivations that drive customer relationships.  How can a company effectively create a relationship with customers your age? 
3. Six categories of customer relationships
   
4. Preview of the next 2 classes.
   

Developing Channels

EQ - How does the right mix of Channels help bring a value proposition to market?

1. Activator: Hot Seat Challenge
2. Channels Quiz
3. Developing Channels for our business model?
4. TOD - How are the 5 channel phases developed within your business model?
5. TOD 2 - How does the right mix of Channels help bring a value proposition to market?

Channels

EQ - How does the right mix of Channels help bring a value proposition to market?

1. Activator: Assessing the Basics
2. Introduction to Channels
1. What?
2. How?
3. Why?
3. Intro Channel Phases (5)
4. Jigsaw - Apple's Channel Phases
5. TOD - Describe Channels and list the 5 channel phases

Value Propositions

EQ - How can value be delivered to a customer segment?

1. Activator - Discussion question - What makes a customer choose to purchase from one company over another?
2. Review Empathy Map Homework
3. Advanced Organizer
4. Introduction to Value Proposition
1. What?
2. Why?
5. Group Think - What value(s) are you offering your potential customers?
6. Examples of Value Propositions (11)
7. Group Think - Categorize your product's value proposition
8. TOD - Answer the EQ

The Empathy Map

 EQ - How do businesses use empathy to create a business model?

1. Activator: Cartoon
2. Empathy In Business
3. Discussion Question - Based on your results, what would the customers want?
4. Introduction to the Empathy Map "XPLANE"
5. Empathy Map Example - Microsoft 
   
6. Shifting Perspectives - No More Us Vs. Them 
   
7. TOD - Answer the EQ

Exploring Expert Opinions

Today is all about exploring what the experts are offering.  What better place to get the viewpoints of expert entrepreneurs than Entrepreneur the Magazine!

The links provided at the bottom of this entry will allow you to navigate through various topics of customer segments and customer segmentation as it applies to our learning of entrepreneurship.

*OUR TASKS TODAY*

1. Divide yourselves into 5 even groups (as even as possible).
2. Browse and Read portions of the articles listed below (you may want to take notes for future reference)
3. Formulate discussions with your group members regarding topics of your personal interest.  As you share your findings, direct each member to specific portions of the articles (aren't you glad you took those notes?)
4. Dig deep into your curiosities and try to create a list of questions you may currently have AND/OR are forming as you read.  Share these questions with your group members and welcome feedback from your peers. 
5. Return to your assigned seat and contemplate your business idea and SPECIFICALLY FOCUS ON THE KEY QUESTION (I promise I'm not yelling, only emphasizing) For whom are you creating value?
6. Once this is determined, identify the specific needs and wants that these individuals or businesses have.
7. Classify your customer segment according to your notes from our previous class meeting.
8. If time permits - Create a BRAND NEW study guide that covers ALL information regarding customer segments.  This should include information from today's readings.  We will be having a quiz on customer segmentation next class.

**Links Chosen Especially For You**

http://www.entrepreneur.com/blog/219536

http://www.entrepreneur.com/article/219712

http://www.entrepreneur.com/blog/219622

http://www.entrepreneur.com/blog/219682

http://www.entrepreneur.com/blog/219525

http://www.entrepreneur.com/blog/219644

http://www.entrepreneur.com/blog/219506