We have been put into groups to discuss an aspect of the business model canvas, I am introducing our subject, feasibility. I thought I’d work on the text here to help with the reflective piece later.

When it comes to setting up a creative practice, It’s common to start as business because you love doing or making something without thinking how to make it economically feasible. We don’t always take the time to consider how to put this in place in the beginning.

Its important to take the time to look at everything you do and what that that entails. Previously we saw how the business model canvas is a tool to help us record this with boxes to add our key partners, key activities and key resources. We are going to unpack this further to examine where and how we ourselves add value to our business and where we can add value by outsourcing aspects that are not a good match to our activities or resources. How analysing these key activities and resources can illuminate when to remain a sole practitioner or when to scale up and understand everything that this entails.

We will outline what we mean by key partners, ranging from collaborators to suppliers to producers and discuss and reflect on how we ourselves and other businesses have developed relationships with partners, the choice of which will ultimately reflect on our business to our customers.

However we source and utilise these collaborators we will look at both the benefits and risks involved and the opportunities that they may be open up.

We will look at aspects such as the supply chain – which is the A-Z of how we deliver products or services to clients and how we can, again, we can outsource links in the chain to allow us to focus on communicating our unique selling point and make the most impact on customers.

Ultimately, our own time is our most valuable resource, a resource that we can’t afford to overuse.

Final slide

This is the final slide where we’ve highlighted important points from each section. We saw how useful the business model canvas is as a tool to guide us from business idea through to connecting and engaging with our partners, activities and resources to design a product market fit for both our business and our clients’ needs.

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