What are the 7 components of Business Model Canvas?

 The Business Model Canvas (BMC) is a powerful tool for visualizing, analyzing, and designing a business model. It consists of 9 building blocks, but if you're focusing on 7 components, you're likely looking at the core elements most essential to strategic planning. Here's an overview:

1. Value Proposition:

   • The unique value your product or service provides to customers. It explains why they should choose your offering over competitors.

2. Customer Segments:

   • The different groups of people or organizations your business aims to serve. Understanding their needs is key to tailoring your approach.

3. Channels:

   • The methods you use to deliver your product or service to your customers. This includes distribution, communication, and sales channels.

4. Customer Relationships:

   • How you interact with and build relationships with customers. This could range from personalized support to automated services.

5. Revenue Streams:

   • The ways your business earns money from each customer segment. This could include sales, subscriptions, licensing, or advertising.

6. Key Resources:

   • The essential assets your business needs to operate effectively. These could be physical (e.g., equipment), intellectual (e.g., patents), financial, or human resources.

7. Key Activities:

   • The crucial tasks and operations your business must perform to deliver its value proposition, such as production, marketing, or problem-solving.