Steps you can follow to complete the task:

Step 1: Select The Idea:

• • What challenge or problem do you want to address or tackle? (Think of something you are passionate about).

• • Write the challenge statement:

• • write a succinct one-sentence challenge statement that will guide you as you construct the business model canvas. Phrase the challenge statement as a question, such as how can we?

• • • As an example, an instructor works for a college that has 3000 students. Hes passionate about providing students with practical, job-ready knowledge and skills. His challenge statement, based on having so many students and a limited number of career planning advisors on staff, is:

"How can we effectively help 3000 students find the jobs and careers of their dreams?"

• What is the idea/ prototype:

• • Use your experience and intuition to select a preliminary idea or solution

Step 2: Start building the model, using the business model canvas and its nine building blocks as our guide.

• • (1) The Customer Segments Building Block:
    • Identify the Customer Segments.
    • Select Most Important Segment.

• • (2) The Value Propositions (VP) Building Block
    • Identify your key customer segments primary jobs, pains, and gains
    • Describe how your products and services will relieve your customers pain, accelerate your customers gains, and help them complete their job tasks.

• • (3) The Channels:
    • Identify and describe the Channels needed to deliver your Value Propositions to your most important Customer Segment.

• • (4) The Customer Relationships:
    • Determine and describe the type of relationships you will need to develop with your most important customer segment.
    • Provide examples as it relates to both the customer acquisition process and the customer retention process.

• • (5) The Revenue Streams:
    • Identify and describe the Revenue Streams needed to deliver your Value
• • (6) The Key Resources:
    • Determine and describe the Key Resources you will need to deliver the Value Proposition. Provide specific examples whenever possible.

• • (7) The Key Activities:
    • Identify and describe the Key Activities required to deliver your Value Propositions to your most important Customer Segment.

• • (8) The Key Partners:
    • Determine and describe the Key Partnerships you will need to deliver the Value Proposition. Provide specific examples whenever possible.

• • (9) The Cost Structure:
    • Determine and describe the Cost Structure involved with delivering the
    • Value Propositions to your key Customer Segment. Provide specific examples whenever possible.