Defining your business model
When you establish a new company, it is important to have a clear business model. What is your overall business idea? What are your key activities in the business? How do you create value to your customers? How do you generate a profit? These questions should be clarified before you start your business. This is not to say that the answers cannot be modified and further developed in later phases, but at least some preliminary answers are needed.
This module will help you do this with the help of the nine building blocks in Osterwalder’s Business Model Canvas (Osterwalder, 2010). This tool can help you produce a clear picture of your business in one sheet. This can help you better define your business for yourself, for potential partners, and for banks and potential funding institutions.
