Title: Create a business model.
Course: Entrepreneurship (12053-I) > Section: Planning an Entrepreneurial Venture

Creation should include using the business model canvas, a business tool used to visualize all the building blocks of starting a business, such as

- key partners
- key activities
- value proposition
- customer relationships
- customer segments
- key resources
- channels
- cost structure
- revenue streams.

Process/Skill Questions:

- What is a business model canvas used for?
- Why is a business model canvas important?
- How does a business model work?
- How will the venture define one unit?
- What is the cost of one unit of the new product or service?
- How will the new venture generate revenue?
- How will the new venture generate profit?
- Why would an entrepreneur create a business model canvas instead of a business plan?

Teacher Resources:

- Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers (The Strategyzer series) by Alexander Osterwalder and Yves Pigneur
- Micro-credential: Intro to Business Model Canvas, VCU da Vinci Center for Innovation