Business Models

This episode presents tools to design a new venture. It also discusses the multiple components of a mission and the development of a value proposition that consider elements beyond the creative product or service. Also, the importance of identifying revenue streams, cost structure and the legal structure that best adapts to the operation of the company are presented. Intellectual property aspects are also presented as an element of differentiation and income generation.

Objective

• Know the importance of designing a mission with multiple dimensions
• Assume the importance of developing a value proposition that incorporates customer experience
• Know and use design tools such as the Business Canvas Model and the Logic Model

Assignment

1. The mission – Prepare a mission statement for the venture in 100 words or less. Be sure to identify the three axes of the mission. The first from an artistic or creative nature, the second from an economic sustainability focus (market oriented) and the third axis that will vary depending on the nature of the initiative (social, community, educational, urban, etc.)
2. Customer Analysis – Describe your main customer profile in up to 150 words. Use demographic, geographic, lifestyle, generational, tastes and behavioral aspects, among others. Describe the main «pains» or difficulties experienced by your client or user when consuming a product or service similar to yours. Similarly, describe what the customer expects to «gain» by consuming or participating in your product, service or experience.
3. Value proposition – Use the model of the four concentric circles value proposition model to establish keywords in each of the levels. Go from the inside out. First, identify the main activity of the company. Then, establish all the elements that customers expect as part of the consumption of your product or service. In the third circle, establish complementary activities that guarantee the satisfaction and delight of consumers. Finally, include some elements that would be necessary to develop in the future to improve the experience.
4. Canvas model – Prepare a canvas model for your business idea. In a first exercise, use keywords for each of the blocks. Then elaborate more specific approaches and actions for each component.
5. Prepare a business presentation in a maximum of 3 minutes. Be sure to present the problem you are solving (aesthetic, emotional, social, entertainment, educational, etc.), your success elements, the target market and the resources you have to achieve it. End by answering the question about how the business will generate revenue. Practice it frequently.