How to build a business model within 20 minutes

How to build a business model within 20 minutes

Business Model. Is it a big thing?

Photo by Andrea Piacquadio from Pexels

Yes, of course, it is a thing and difficult task for a newbie or big companies or multinational businesses. Further, many more questions will come to our mind and graphics, charts, maps also display in mind. Here, I am not going to explain the making of a big report as a model. It is simple and can be made within 20 minutes. Here, you can see how to build a business model within 20 minutes.

How do we make it?

This models give you a simple explanation of your business idea when you make it. You can easily map out your idea and plan how is to run your business by getting all your expected/unexpected benefits. You can start with this model even you have already created a business idea.

I can show you, two models, here. You can choose one of them.

Model 01

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#1 Your identity.

Write down your idea of your business and what are you going to do. Take less than 10 words for this.

#2 The problem you are solving.

Mention about your problem/problems.

#3 The solution to the problem

You better find the solution here for the problem/problems mentioned above.

#4 Customer

Here, you can mention your beneficiaries or your buying parties of your product.

#5 Key resources

The resources you have to implement your business idea.

#6 Activities

Specify your activities that you are going to perform in your business

#7 Cost

Here, you can state about the expenses to start the business

#8 Revenue

Please write down your ways of generating income from your business plan.

Model 02

Here is the second model. This model is also quite similar to the above model. However, the process is not the same as the above.

#1 Key activities

You need to outline the actions that you have to run the business or changes to be done at the existing business.

#2 Key partners

If you do not have the means to distribute your goods, you should contact the relevant parties.

#3 Key resources

You have to find basic resources to initiate your business idea.

#4 Valid proposals

You can state what value your business delivers to the customers or what solution to the problem and why customers buy your services/ products.

#5 Problems

State the problems that your business solves.

#6 Relationship

Here, you need to mention the connection between your business and customers.

#7 Customers

You need to write down the beneficiaries of your business or parties your product/ service to purchase.

#8 Media

In here, you can mention about the media that you are going to promote your business. Presently, many options are available for marketing your product/service.

#9 Cost

You can write the types of expenses to imitate the business.

#10 Revenue

You can indicate the ways that can generate income from your business. Implementing one of the models here, using an online platform also be benefited when you have ideas for the businesses. My request is to initiate at least a small idea consistently to become a business giant. 

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