We at Buynextdoor, have trained our interns on a variety of fields like business development, communication skills, designing marketing stratergies, etc. These are the required skills for operating as a CampusCorp. During this internship period, they were assigned various assignments and activities such as debates , extempore sessions, Business Model Canvas presentations, etc. Here are a few BMCs presented by our interns and their experiences during the presentation!
I learnt from BMC that key activities, value proposition, customer segments, etc are the nine aspects of BMC, the BMC is used for start-up companies for internally prioritizing different segments. BMC has a culture of solid teamwork, the nine aspects are important, each aspect has a unique one way of communication
"I would like to thank BUY NEXT DOOR for giving me such a vast & widen opportunity to work with them. I explored a lot from the BMC project on Mc'Donald, through consistent support from BND team. Everyone can learn, but presenting your ideas into effective manner is really important."
The BMC helps us to visualise our business in a couple of new ways. I was anxious to learn about the value proposition. I think it remolded my view about businesses, it helped me to know how a businessis set and how to manage it in optimized manner. The step included in it has taken care of the entire scenario and nothing is left out.
While preparing a presentation on BMC, I got to know about many things which need to be considered while strategizing a company. We need to optimize the cost structure and increase the number of revenue streams to get optimal profit i.e. spend less earn more.
I looked at the format of BMC and tried to fill all the columns. It was hard in the beginning since Facebook is a large company and had a complex structure. I started doing my research on Facebook and I learned a lot about the company as well as it's operations everyday which make it such a successful company. I also had a brief picture about how I can make the BMC of my own startup or any startup in general.
This internship introduced BMC to me. BMC is essentially an organized way to layout your assumptions about not only the key resources and key activities of your value chain, but also your value proposition, customer relationships, channels, customer segments, cost structures, and revenue streams. By laying out your business on the canvas, you can quickly see if there are any faults in your plan. So, basically BMC makes things easy and can be explained in a short way.
It was a good experience on exploring how a startup built. The Webinar gave me clear view of different important aspects of a startup. A BMC has a lot importance in setting a plan and to get clear view of the business model. It pays attention on every aspect right from the consumer need to the demand and supply chain. And the value it adds to a customer is also important.
I learned many new and interesting things while preparing my BMC. I got to know many facts about the company that I was presenting as well as those presented by others. Moreover, I think this activity brought an elevation in my presentation skills. This activity definitely contributed to my personality as well as technical development.
Basically, I had never made any presentation till now, so it seems like a new challenge for me. I thoroughly enjoyed while making my BMC and also there was a high level of interaction with all others. So I think it worked well as a learning activity. I learned how the business model canvas is used to visualise all the building blocks when you want to start a business, including customers, route to market, value proposition, key strategy and finance.
A start-up is a company or project initiated by an entrepreneur to effectively develop, and validate a scalable business model. We have got to know about BMC's of different companies and also how these work. So thanks to Buy Next door to helping us to learn new things which are used to start any start-up. Also because of webinars and meetings our communication skills have developed.
I made a BMC for oyo and while making this I got to know some amazing things about oyo which were not known to me. Also I understood the importance of BMC very well. It's like a roadmap to start a business.
While making the BMC I came to know that, how the nine key boxes indicated the key parts of the business, which works together to achieve success to understand the business clearly, that too from a single page.
BMC, made me know a few important tasks on how a business runs & it's process. Each part of the business model is a step process. Key partners, whom they are operating with and having patents, supply chain, in-house development or outsourcing. Same way the key activities like R&D and design, support services. And also I have got to know about the value proposition like premium quality,style, etc and not only this, for the growth of a company you need to have a good customer relationship and distribution channel.
Usually, when a company works in teams to improve the business, create new products, or describe their company during a meeting with an investor, etc., they discuss their business model. Also, it illustrates the business quickly and easily, by presenting the most important aspects that affect the success. However, other considerations of business success are implicit but not explicitly covered by the business model board such as the level and nature of competition and the determination of measurable goals.
BMC is a great way of showcasing the plot of your idea and its working etc. A nine segment canvas of significant areas of interest which is vital to take in consideration while pitching or establishing a business plan to anyone, anywhere. As an individual to learn and understand a bmc was informative and knowledgeable. This method broadens the process of handling any sort of problems occuring in future for the plan and helps to stick to the idea and takes away diversion from the same.
A BMC is simply a design for the successful operation of a business. It’s how you create value for yourself while delivering products or services to your customers. The BMC is broken into nine building blocks. In this session we learned how company creates an imaginable and scalable plans to run their firm by the case study of various companies . The session was helpful for enhancing the presentation skill and pitching ability of individual participant in short time .
Business model canvas offers insight into dealing the problems efficiently and effectively. It is the summary of tasks and facts that help any startup run it's cource. They act as simple guidelines and checkpoints. It describes the value proposed to solve a specific problem. What people want and what people offer, these should be consequence of each other. The relationship with customers, partners should be maintained thoroughly. It is as important as carrying out key activities to sustain and grow.
While preparing the BMC , I got to know a lot of things that I wouldn’t notice otherwise. Everything seems simple when you look at the bigger picture, but I learned that a lot goes into making a business or a company stick. When it comes to key partners, value propositions, etc., there’s a lot of intricacies that doesn’t really capture attention unless you deeply inspect the business model canvas. All in all, I learned that forming a company isn’t simple, rather, every single detail requires speculation and planning.
this is link