Drafts e-mailed by noon, Week 4’s class typically receive feedback – typically within 48-72 hours.
Group Assignment #2: BMC/Feasibility Study, Worth 10% of Final Grade, Due start of Wk 5’s Collaborate Session
At the Professor’s discretion, Peer Evaluation may be used to determine/allocate individual grades. Otherwise, all members will receive same grade.
Business Model Canvas (BMC)
A feasibility study evaluates a business opportunity to determine its economic viability. For small businesses, the costs
and effort required to conduct a formal feasibility study greatly outweigh potential benefits derived.
The Business Model Canvas (BMC) is a business model that enables entrepreneurs to plan, develop and test a business
idea/opportunity. The BMC is better than a feasibility study because of its relative simplicity and reduced time and cost
required for preparation. Furthermore, the primary and secondary research required by the BMC provides a sound
foundation with which to develop the business plan.
The BMC consists of nine building blocks, as follows:
BUSINESS MODEL CANVAS TEMPLATE
8. KEY PARTNERSHIPS (KP)
• Describe KP required
to fulfill KA; acquire
KR, support CR, RS.
• Tip: Ensure KP costs
are included in C$.
• Describe terms and
options if KP alters
delivery, goes out of
6. KEY ACTIVITIES (KA)
• Describe KA needed to
fulfill VP; communicate
with CS, build/deepen
CR and KP, support KR,
reduce C$, support RS
• Tip: Ensure KA costs
are included in C$
• Tip: Can any KA be
outsourced to KP to
7. KEY RESOURCES (KR)
• Describe KR – assets
owned or developed –
to support KA, build
CR, deliver VP, etc.
• Tip: Include nontangible assets
• Tip: Consider leasing
instead of buying,
include KR costs in C$
2. VALUE PROPOSITIONS (VP)
• Describe how CS meet
needs, solve problems
and reduce pain now.
• Describe what CS like
most/least and wish for,
from current suppliers.
• Describe how your VP is
from competitors’ offers.
• Explain if VP has barrier
that prevents firm’s
9. COST STRUCTURE (C$)
• Describe major costs, support with primary/secondary research.
• Describe how funded, timing, method of payment, if applicable.
• Tip: Ensure costs align with & match cost of KP, KA, KR, CH, CR
3. CUSTOMER RELATIONSHIPS (CR)
• List types/levels of CR that CS
• List types/levels of CR that your
firm plan/able to provide.
• Describe plans to create AARL.
o Awareness of your firm/VP
o Acquisition of CS from your
o Retention of CS? (repeat buys)
o Loyalty of CS?
1. CUSTOMER SEGMENTS (CS)
• What are their
problems, pains and
• Analyze, segment and
prioritize CS by
• Ideally, create personas
of key segments.
4. CHANNELS (CH) Integrate w/CR
• Describe CH that CS prefer to
use to send/receive messages
and receive VP.
• Describe why CS use certain CH
and frequency of use.
• If B2B, include distribution CH
5. REVENUE STREAMS (RS)
• Describe Revenue Model and differences from competitors’ RS
• Break down estimate of total revenue, where possible (CS, CR, CH, C$, etc.)
• Describe relevant RS info (e.g., fluctuations, payment methods, terms, etc.)
NB: Philip invites groups to meet him to answer queries, provide advice, resources, feedback [e.g., Survey question design, use of
market research/demographic tools (https://prizm.environicsanalytics.com/)) , suggestions to enhance work, etc.]
The BMC enables entrepreneurs to …
• Validate assumptions through primary research that’s integrated with secondary research
• Evaluate data, modify initial assumptions (pivot) and retest for validity to ensure successful outcomes
The BMC Chart lists key bullet points in nine building blocks on a one-page chart. Supplement the BMC Chart with
BMC/Feasibility Study (report) (
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