Business Models 101:Key Resources
In this part we will discuss the Key Resources, meaning what do you need
as equipment, material, support to make your business turn.
The Key Resources in the Business Model
What will you require to fulfill the value proposition
and support the development of your business. Will it be humans, machines,
financial, intellectual resources.
Once you know what you need to go
forward, you can then also evaluate what they will cost, where to get them
from, etc....
Same as for the activities, you need to understand clearly
what resources you will need for your activities.
For our cupcake factory activity, the main resources will be
our staff mainly. Then, if our online presence is essential, we will need
someone that takes care of the website. It could be the same person that
takes the orders in too. In that case it could be part of our staff or we
could hire an external web design company.
If we go for offering franchise, then we will have to supply
them with goods and services for their activities to turn smoothly.
So you have to go through each box in your business plan
sheet and look at what key resources are
needed by each of them but mainly needed by:
Previous: the Key Activities
Next: Key Partners
Download the
excel business model canvas Template from here.
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