Things to consider before making a product| Business Model Canvas

Business Model Canvas (BMC) is a business model that is often used before starting planning in making a product, building a business, creating a company, etc. BMC as the initial basis that needs to be considered and considered, because it assembles all aspects of the business from production, distributors, to the hands of consumers. BMC provides a clearer picture of how the business or company will operate and what important points need to be considered. So you can identify strengths, gaps, weaknesses, opportunities, and potential threats to competition in your business. BMC also be used to re-evaluate your current business model or to start modeling a new idea.

In the Business Model Canvas contains 9 important points that must be considered that will relate to one another. In working on BMC, you can start from the right to the left

1. Customer Segment is Who is the target / target of your product, Who is suitable to buy or use your product. Can be classified by gender, age, profession, interests, etc.
   for example: students with short hair, Supermarket visitors, users of public transportation, etc.
2. Value Proposition is the value of the product such as the advantages of our product, the benefits obtained, the advantages of competitors, things that other products dont have, what makes the product satisfied with our product, the reason why customers want to buy the product.
   for example: low prices with larger portions, easier to use, etc.
3. Customer Relationship is the way we can connect or communicate with customers, how customers are interested in buying our products, and if they have purchased how to maintain and not lose them from competitors.
   for example: social media & websites, attractive promos & discounts, service methods, friendly customer service, criticism & suggestion boxes.
4. Channel is a marketing method that we do to offer our products, how customers can get to know the product or a forum to recognize it through what kind of promotions we do.
   for example: website, social media, radio, marketplace, community, etc.
5. Key Activities are activities that are carried out or what unique strategies will be carried out by the company to provide value Propositions to customers to achieve company targets and values.
   for example: how to distribute products, manage social media content, satisfy customers, etc.
6. Key Resources are any important assets needed by the company to operate. example:
   - Intellectual property, including patents, trademarks, copyrights, and trade secrets.
   - Physical, for example computers, machines, vehicles, and buildings.
   - Finance, including cash, cash balances, credit, accounts receivable, etc.
   - HR, namely employees, managers, etc.
7. Key Partners are parties who are invited to cooperate or are needed in running a business.
   for example: plastic companies, flour factories, convection, SMEs craftsmen, influencers, banks, investors, etc.
8. Revenue Stream is a source of income for profit.
   example : Sales of goods/services, registration fees, company partners, etc.
9. Cost Structure is the cost of expenses what expenses are required by the company to operate
   for example: employee salaries, office operational costs, material costs, promotion costs, advertising costs, research and development costs, machine maintenance costs, etc.

Things to consider in making BMC

1. Really understand the product concept, both marketing strategy, needs, cooperation parties, and complete details (make sure nothing is missed)
2. Conduct competitor analysis (learn from the experience of others and improve it)
3. Take consideration in making decisions
4. Do a re-check / review regarding future implementation and reduce the risk of failure.

Don’t forget to use BMC before starting a business, okay!!

Have a great day!!
and success on your business

Sumber:
Bootcamp Binar Academy
https://www.ocbcnisp.com/en/article/2021/12/20/business-model-canvas-adalah
https://glcworld.co.id/penjelasan-business-model-canvas/