The Business Model Canvas is a strategic tool for developing new business models or documenting and improving existing ones.
However, a proper business model helps you to figure out element such as your business concept-what problem you are solving for whom, how you will create customer value, how your product and services will get to a customer, how your business will stay competitive, and all revenue and cost you can anticipate.
•It helps structures discussions
•It’s great for developing a portfolio of ideas
•Intuitively-it makes sense
•The value proposition
Who are our key partners?
Who are our key suppliers?
Which key resources are we acquairing from partners?
We must be able to give a clear insight about our partners. In answering the question of who are our partners really are? We must however take into consideration the level of benefit our partner will give in return. Note: do not partnership all in the name of partnership as the actual essence of the partnership is to foster growth and development.
Secondly, in the area of suppliers we must be able to connect with a reliable supplier as to keep the business going. Suppliers are strengths in our business ecosystem, in sourcing out suppliers you must be able to source out suppliers that have the best in product or services. In such a case you will be at an advantageous point in selling out the product or services.
Resources acquiring from partners: we must be specific as to what is/are the key resources we would acquire from our partners, as good resource will steer-up growth of the business and poor or counterfeit resource from partner would eventually lead to failure of the business.
Motivation for parnerships:
Optimization and economy
Reduction of risk and uncertainty
Acquisition of particular resoure and activiies
Under the area of motivation for partnership: optimisation and economy are greater, as it moves two forces to come to the same perspective of interest. In a situation where there is no optimisation… however, there will be no motivation of partnership if the economy is in shamble. When both stand to be good and encourage, then motivation for partnership is strong.
Reduction of risk and uncertainty: this is a great motivation to partnership, as the saying goes put your money where your mouth is. When the risk is little and the doubt is minimal there will be no fair to invest.
Acquisition of particular resources and activities: when the ease of acquisition on particular resource and activity is easy that also gives a strong motivation to partnership.
To be continued…