Can It Actually Work?
This question asks whether the venture can actually be created and operated.
What is feasibility?
This part of the model describes what the venture provides to the customer.
What is the offering?
Often abbreviated CVP, this communicates why a customer should choose your offering.
What is the customer value proposition?
Waiting too long or not having enough hours in the day represents this customer problem.
What is lack of time?
Coca-Cola selling to a broad population with similar basic needs is an example of this type of customer segment.
What is a mass market?
This one-page tool divides a business model into nine connected components.
What is the Business Model Canvas?
This question asks whether the venture can financially sustain itself.
What is viability?
This part answers the question, “Who are we creating value for?”
Who are the customers?
A strong CVP should provide more of this than competing alternatives.
What is value?
A product customers cannot afford is addressing this customer problem.
What is lack of money?
A company serving only competitive mountain bikers would likely be targeting this smaller, specialized type of market.
What is a niche market?
Customer segments, channels, and this third component make up the customer side of the Canvas.
What are customer relationships?
A venture uses this to explain how it creates, delivers, and captures value.
What is a business model?
Resources needed to deliver the customer value proposition belong to this part of the model.
What is infrastructure?
The chapter says a strong CVP should be expressed in these terms so its value can be demonstrated.
What are monetary terms?
Customers who cannot perform a task because they do not know how are experiencing this problem.
What is lack of skills?
A company dividing customers into groups because their needs differ is using this market structure.
What is a segmented market?
Key activities, key resources, and this third component make up the infrastructure side of the Canvas.
What are key partners?
A business model includes this interconnected collection needed to make the venture work.
What is a network of activities and resources?
Revenue and cost structures are evaluated under this part of the model.
What is financial viability?
A CVP must be capable of being delivered over a considerable period of time, making it this.
What is sustainable?
A customer who cannot easily obtain a product, service, or resource faces this problem.
What is lack of access?
A company serving two or more unrelated customer groups with different needs uses this type of market.
What is a diversified market?
Cost structure and this component make up financial viability on the Canvas.
What are revenue streams?
Developing unique features or meeting customer needs differently can help a venture achieve this advantage over competitors.
What is differentiation?
This is the specific element within the offering that explains how much a product or service is worth to the customer.
What is the customer value proposition?
“Why should I believe you?” is the customer question that tests this quality of the CVP.
What is credibility?
The CVP should help customers get one of these done, relieve a pain point, or fulfill a need.
What is a job?
Uber needs both drivers and riders, making it an example of this type of market structure.
What is a multisided market?
This Canvas variation begins with a problem and focuses on early adopters, key metrics, and unfair advantage.
What is the Lean Canvas?