A briefoutline of what your business does, its history and its founders. This should bring a reader up to speed as to the industry and organisation.

A briefoutline of what your business does, its history and its founders. This should bring a reader up to speed as to the industry and organisation.

MBS673 ASSIGNMENT 3 TEMPLATE/ LAYOUT The following template reflects the Business Model Canvas Methodology. Students are encouraged to address the points listed below when describing their proposed business solution. Care should be taken to write professionally. Explanations should be clear, logical, detailed, supported with evidence and free from error. The final submission should also be coherent. Each section of the final submission should echo/ reflect the other sections and not contradict. TITLE: title and name the business. 2. IDENTIFY /DESCRIPTION: A brief outline of what your business does, its history and its founders. This should bring a reader up to speed as to the industry and organisation. 3. WHAT: i. Value Proposition: Describe what your solution offers your users that is special and unique. Describe your solution. What does your solution do? What problem is your business trying to solve and what needs are your company satisfying? 4. WHO: i. Customer Segments: Who is the main focus of your value proposition? Who are you creating value for? Who are your most important customers? What are they like? What do they need? What do they enjoy? Explain why your solution is ideal for their needs and why you believe they will use your proposed solution. What is the customer market like? ii. Customer Relationships Describe how your clients will engage with your business. How does the business interact with customers and how does this differ between customer segments? Does your company frequently communicate with customers? How much support is provided by your company? iii. Channels Describe how you plan to educate potential users as to the benefits of your solution. Describe how you will communicate/ promote your solution. Describe how your clients will purchase from you. Describe how they will engage/ receive your solution. Describe how you plan to deliver your solution to your users. 5. HOW: i. Key Partnerships What key activities are performed by your partners? What key resources does your business receive from these partners? What is your business’s motivation for working with these partners? Is there something specific that only they can provide? Do they help lower costs? ii. Key Activities What key activities are necessary to deliver your value proposition? What activities set your business apart from others? How do your revenue streams, distribution channels, and customer relationships differ from competitors? iii. Key Resources What specific assets are necessary to operate your business and deliver your value proposition? What resources do your distribution channels and revenue streams need to function? What resources are needed to maintain customer relationships and customer satisfaction? Does your company require significant capital or human resources? 6. HOW MUCH: i. Revenue Streams What method does your business use to generate revenue? What is the pricing strategy for the products offered by your company? How do your users pay (up-front, payment plans, financing, etc.)? ii. Cost Structure What are the key costs in your business model? What are the major drivers of cost? How do your key activities and key resources contribute to the cost structure? How do your costs relate to your revenue streams? What proportion of costs are fixed and variable? 7. FINANCIAL PROJECTIONS: How much money does your business expect to make in each of the first three years of operations? On what assumptions is this projection based? What costs does your business expect to incur in each of the first three years of operations? On what assumptions is this projection based? Projected Income Statement. Projected Balance Sheet. Projected Cash Flow Statement. 8. KEY RISKS: What are the three principal risks that your business faces? How does your business plan to overcome/ mitigate the risks it faces? 9. SUMMARY: A brief summary outlining what your business aims to achieve. Assess its future prospects. * * *