Business Model Canvas Masterclass How Business Models Work

Plan your new business like a boss (see what we did there?).

Last updated 2022-01-10 | 4.5

- By the end of this course
- you’ll be able to start a fully functional business with the tools and strategies you’ll learn. You can take that passion project you’ve been working on and turn it into a side hustle or even a full-on startup. You’ll know how to take an idea
- find a target market for it
- and start creating solutions for your customers.

What you'll learn

By the end of this course

you’ll be able to start a fully functional business with the tools and strategies you’ll learn. You can take that passion project you’ve been working on and turn it into a side hustle or even a full-on startup. You’ll know how to take an idea

find a target market for it

and start creating solutions for your customers.

* Requirements

* No prior business knowledge is needed. We recommend you have a stack of index cards and a permanent marker. Be ready to adopt an experimenter's mindset!

Description

This online course shows you how entrepreneurs think about starting a business and how they develop startups. You’ll learn everything from business planning essentials to the most commonly used business strategies. Whether you’re a small business entrepreneur or you’re starting an empire, this course will show you how to bring your idea to the market so you can get started building your business today.

We’re going to learn theory first and then take a look at examples of existing businesses where you can see it in action. We’ll also roll up our sleeves and get our hands dirty, creating our own business models.

At the beginning of this course, I’ll show you that business models are everywhere. Then, I’ll show you how every model breaks down into the same 9 parts over and over again using the Business Model Canvas. Additionally, we’ll take a look at the six main strategies that businesses use in planning their models. Finally, I’ll show you how to develop your own business model, and I’ll demonstrate how to pitch the model to other people using a fill-in-the-blank script I created.

By the end of this course, you’ll be able to start a fully functional business with the tools and strategies you’ll learn. You can take that passion project you’ve been working on and turn it into a side hustle or even a full-on startup. You’ll know how to take an idea, find a target market for it, and start creating solutions for your customers.

This course is for you if you’re an entrepreneur who is just getting started or if you’re a founder who’s been in business for awhile and want to expand your knowledge. Whether you’ve got a business idea or you want to become an entrepreneur and don’t know where to start, you’ll be able to walk away from this course knowing what your roadmap looks like so you can keep going with confidence - and a solid plan.

There are no prerequisites or need to have any business knowledge prior to taking this course.

Who this course is for:

Entrepreneurs who want to build a business and don't know where to start.

Course content

7 sections • 59 lectures

Introduction 1 lectures

Introduction Preview 01:25

There are no prerequisites or need to have any business knowledge prior to taking this course.

The Business Model Canvas: An Overview 6 lectures

Introduction Preview 00:39

Introduction to Lesson 1. Objectives are the fundamental idea, recognize business models everywhere, and learn about the business model canvas.

Business Models Are Everywhere Preview 00:55

Business Models are everywhere, urban and rural.

The Fundamental Idea Preview 01:41

The fundamental idea behind every business transaction.

Introduction to the Business Model Canvas Preview 02:14

Introduction to the Business Model Canvas and a brief history.

Conclusion Preview 00:54

Lesson Review.

Exercise Preview 00:40

Draw a business model canvas for familiarization.

The 9 blocks of the Business Model Canvas 17 lectures

Introduction Preview 01:04

Introduction to Lesson 2. Objectives are understand each of the 9 building blocks of the canvas, use the canvas to understand a lemonade stand.

What We Already Know Preview 01:34

What we already know about business: Customer Segments, Value Proposition, and Key Activities.

Channels Preview 02:22

Channels are the ways in which we communicate with and deliver our value proposition to customers.

Revenues Preview 03:21

Revenues are ways that money comes into the business. 6 commonly used charging mechanisms.

Relationships Preview 03:29

Relationships describe how our motivations are represented when establishing them with customers (acquisition and ongoing revenue). 6 types of relationships.

Right Side Review Preview 01:05

A review of what we know now about the right side of the canvas.

Left Side Overview Preview 00:34

The left side of the canvas consists of Key Activities, Key Resources, Key Partners, and Costs.

Key Resources Preview 01:32

Key Resources are those things without which we cannot produce our Value Proposition.

Key Partners Preview 01:28

Key Partners are those people or companies that help us fabricate, supply, and sell our Value Proposition.

Costs Preview 01:42

Costs consist of fixed and variable costs.

Left Side Review Preview 00:57

A review of how the left side of the canvas fits together in our example.

Putting It All Together Preview 03:47

How the entire business model canvas works using our example.

Example 1: Coffee Shop, Right Side Preview 05:15

A look at the right side of the canvas using a coffee shop example.

Example 1: Coffee Shop, Left Side Preview 03:22

A look at the left side of the canvas using a coffee shop example.

Example 2: Gas Station Preview 05:21

A look at the entire canvas using a gas station example.

Challenge: Casual Dining Restaurant Preview 03:09

Challenge description - complete your own business model canvas using a casual dining restaurant as an example.

Lesson Conclusion Preview 01:57

A review of our deep dive of the business model canvas.

Business Model Strategies 11 lectures

Introduction Preview 02:50

Lesson 3 Introduction. Objectives are to identify 6 commonly used strategies, understand how each makes money, understand what they look like using practical examples,

Restaurant Challenge Answer Preview 04:27

Challenge answer from Lesson 2.

Classic Strategy Preview 00:42

Classic Strategy is one we already know. Simple business transaction.

Freemium Strategy Preview 03:25

The Freemium Strategy offers part of the Value Proposition for free to one customer segment and uses another customer segment to subsidize the first.

Multisided Strategy Preview 03:05

The Multisided Strategy brings together two customer segments. Value is created only when both segments are present.

Longtail Strategy Preview 01:49

Longtail Strategies sell high volumes of niche products to niche customers in one business model.

Open/Platform Strategy Preview 03:09

Open/Platform strategies employ two types of segments that buy from and sell to each other. The platform charges usage fees.

Unbundled Strategy Preview 03:15

The Unbundled Strategy is really just three classic models put together. Typically, it involves an innovative product, customer service, and infrastructure.

Lesson Conclusion Preview 01:37

A review of the 6 strategies in the lesson.

Challenge: Name that Strategy Preview 00:46

Challenge: name that strategy for three business models. Walmart, Instagram, and Etsy.

Prep for Lesson 4 Preview 03:42

Preparation for Lesson 4.

Design Your Own Business Model 17 lectures

Introduction Preview 00:53

Introduction to Lesson 4 - create your own business model by using research hacks to find problems and solutions.

Challenge Answer Preview 03:43

Answer to Lesson 4 Challenge.

Discovering Customer Problems Preview 02:41

The importance of customer problems & what makes a good problem for you.

Where to look for problems Preview 01:08

Looking in 4 places to find problems: personal experience, family & friends, public, and the internet.

Internet Research Hacks Preview 05:53

Using social media and ecommerce platforms as search tools.

Complete the Customer Segment Block Preview 01:07

Link problems to a common customer.

Constructing the Value Proposition Block Preview 02:26

Introduction to completing the Value Proposition block.

Solution Research Hacks Preview 03:01

Using search tools to discover existing solutions.

Intro to Prototyping Preview 00:49

Introduction to prototyping as a physical representation of a Value Proposition.

Hardware Preview 01:09

Hardware prototyping using cardboard.

Software Preview 00:54

Software prototyping using markers and paper.

Service & Prototyping Review Preview 01:17

Service prototyping by creating a game board.

Completing the Value Proposition Block Preview 00:25

Completing the Value Proposition Block

Complete the Rest of the Left Side Preview 01:28

Using the internet to complete Key Activities, Resources, Partners, and Costs.

Complete the Rest of the Right Side Preview 01:17

Using our previous customer research to complete Relationships, Channels, and Revenues.

Final Thoughts Preview 02:32

Final Thoughts on creating your own business model.

Lesson Conclusion & Next Steps Preview 01:20

Lesson conclusion and next steps.

Pitch Your Business Model 6 lectures

Introduction Preview 01:23

Introduction to Lesson 5. Objectives are to learn the One-minute Pitch and the “Extended” Pitch.

The Order of Operations Preview 00:54

The order of operations. Planning a business model vs. telling others about it.

Example: The One-Minute Pitch Preview 01:35

Demonstration of the One-Minute Pitch.

Example: The "Extended" Pitch Preview 00:41

Demonstration of the “Extended” Pitch.

The Pitch Break-Down Preview 04:59

A breakdown of how to pitch the business model using fill in the blanks.

Lesson Conclusion Preview 01:06

Lesson 5 review.

Course Conclusion & Next Steps 1 lectures

Course Conclusion & Next Steps Preview 01:16

Course conclusion. You can now observe business models, use them for reference, understand what’s involved in them, know how they make money, create your own business model, and pitch your model to other people. Recommended next steps include how to practice customer validation.