How To Use the Sheet
Value Proposition – Goods Services Production Retail
You should choose how your business will propose value. Do you provide a good, service, produce, retail, or offer online? If you have an idea for an app that is a game, you would choose good online and possibly service. If you make an app to help users invest, that is a service, online, and good. The important detail to write is how your idea fits either of the classifications. Your idea could fit multiple classifications. If you are a brick and mortar store, then you have a service (item procurement) and goods (high demand).
Revenue Streams – Advertising, Fees, Licensing, Rent, Lease, Subscription Fee, Sale, Periodic Use Fee, Real Time, Negotiation
Revenue streams can be very different from business to business. A static website might choose to advertise (affiliate marketing, product placement, or third party placement), or retail has individual sales. Revenue streams are diverse, and it is important to notate how your business may accomplish that.
Customer Segments – Mass / Niche Markets, Groups
Lastly, if you are going to write an idea down an idea very quickly, you should notate who your goods, and services are for. There so many different ways to group demand, and you should not forget the most important groups that your business will find opportunity in.
Competition Differentiation – Frontier, Performance, Customization, Utility, Design, Brand/Status, Price, Costs and Risks Reduction, Accessibility, Convenience
How is your business going to differentiate itself from the competition. How will you brand yourself differently? How will you handle performance measurement and improvement. Do you have any costs advantages that are different or essential to your business to compete. Are there any special risks that your company has, and how will it handle those risks.
Customer Relationships – Expectations, and meeting them.
How will your firm connect with it’s customers, and how will you manage all of those relationships? Many different customers will have different expectations from certain market participants into how they should receive goods, or services that will shape their experience with firms.
Distribution and Education – Awareness, Evaluation, Purchase, Delivery, After Sales
How will your firm educate customers and distribute it’s goods or services. Customers need to be made aware of your brand, goods, and services, how will your firm complete this. How will your firm conduct purchases, and delivery of items. If you have a retail store, delivery will be to store or warehouse. After sales procedures with customers will be essential and you may have one important one to be written down.
Key Resources – Physical, Intellectual, Human, Financial
It is important to note what key resources your business will have. This could be physical ones such as assets. Intellectual resources such as patents, design techniques, research and development labs and other proprietary information. Financial resources may be a short statement, but serves more as a reminder to estimate the sales and revenues for a specified amount of time.
Key Activities – Distribution Channels, Customer Relationships, Revenue Streams
Key activities of your business will be something that needs to be written down. It may be how you will distribute your goods or services, maintain relationships, or revenue streams. Business operations do not have another place to notate on this sheet, and you can write it out here or the note section. It is important to write any significant plans for your operations before you forget. You could also notate any significant comments in this section, or borrow space from the note section.
Lastly, there are so many other ideas you might have and can not properly fit with other sections. Take advantage of the space here and write out the other ideas.