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Business Model Canvas

Markets and Commercialization

Workshop

1-2 h

10-15

Business Model Canvas

This workshop is designed to support RDI project teams in creating a comprehensive business model for their innovations or Key Exploitable Results (KERs). The Business Model Canvas helps you visualize and organize the key elements of your business strategy. In this workshop, you will identify and define the essential components of your business model, develop a clear and actionable business strategy.

Purpose

The purpose of this workshop is to assist RDI teams in defining the key elements of their business model. The Business Model Canvas provides a structured framework for understanding how your innovation creates, delivers, and captures value. This analysis builds on insights gained from the Value Proposition Canvas and other preliminary market research activities.

Participants

Project/RDI representatives and diverse stakeholders and partners already familiar with the theme from academia and industry (e.g., business development professionals, marketing teams, innovation managers). Ensure a mix of perspectives, expertise, and roles within each sector. Works best with a group of 10-15 participants.

Steps to take:

  1. Pre-Workshop Preparation by the Facilitator
    • Gather Initial Data: gather recent and relevant data about the market, competitors, and internal resources. Collect insights on industry trends, customer segments, and financial metrics.
    • Fill preliminary Business Model Canvas: populate the Business Model Canvas with initial insights on customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.
    • Ensure each section has substantial information to provide a solid foundation for the participants.
    • Validate Information: Cross-check the data with multiple sources to ensure accuracy and reliability.
  2. Organise a workshop of about 1 – 2 hours with the necessary participants.   ​   ​
  3. Conduct the Business Model Canvas Analysis as group work:​​​​​
    • Customer Segments: Identify and list the key customer segments for your innovation. Focus on demographics, behaviors, and needs.
    • Value Propositions: Use insights from the Value Proposition Canvas to define what makes your product or service unique and valuable to your customers.
    • Channels: Identify the main channels through which you will deliver your value proposition to customers. Consider both direct and indirect channels.
    • Customer Relationships: Define the type of relationship you want to establish with each customer segment (e.g., personal assistance, self-service, automated service).
    • Revenue Streams: Identify the primary ways your business will generate revenue. Consider different pricing models and revenue sources.
    • Key Resources: List the critical resources needed to create and deliver your value proposition (e.g., physical, intellectual, human, financial).
    • Key Activities: Identify the main activities required to execute your business model effectively.
    • Key Partnerships: List the key partners and suppliers needed to support your business model. Consider strategic alliances and joint ventures.
    • Cost Structure: Outline the major costs involved in operating your business model. Consider both fixed and variable costs.
  4. Group Discussion: Encourage participants to discuss and refine each section of the Business Model Canvas. Use real or virtual post-its to visualize and categorize the points on a canvas. Reflect on how the different components of the business model interact and support each other. Consider strategies to optimize and strengthen the business model based on the identified insights.
  5. Discuss Resources and Responsibilities: Ask the participants to reflect on the time/funding resources required to implement the business model. Identify and assign responsible organizations or work packages for each action where possible.

Next Steps

  • Document the completed Business Model Canvas and the resulting strategic action plan. Share this summary document with all participants.
  • Use the Business Model Canvas results to the development of detailed business plans, market-entry and commercialization strategies, and operational plans for the project’s innovations.

Expected Impacts

By conducting a thorough Business Model Canvas analysis and developing a strategic action plan, the RDI project can better structure and implement its business strategy, enhancing innovation uptake, market success, and overall impact. This process helps identify and align all key components of the business model, ensuring a cohesive and effective approach to innovation commercialization.

Tips for the Organiser

  1. Clear Communication:
    • ​Clearly communicate workshop objectives and agenda.​
  2. Facilitator Expertise:​
    • If possible, employ a skilled facilitator with experience in business model design and strategic planning.
  3. Time Management:​
    • Allocate sufficient time for each step of the workshop, ensuring a balanced discussion and thorough analysis.​
  4. Capture Insights:​
    • Document key insights and decisions made during the workshop. These insights can be valuable for follow-up activities and continuous improvement.​
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