LP Business Model

Objective: Participants will be able to understand and create business model

Total Time: 90 Minutes

Materials Required: Whiteboard

Instructor Note: 

After framing the business idea and decoding the target customer, participants will now work on their business model. This session will help them understand the components of a business model and will give them practice time to use the learned concepts. Trainer should read up about “Business Model Canvas” & Revenue Models/Streams: https://strategyzer.com/books/business-model-generation

Opening Protocol:

• Greet the participants

• Take attendance

• In pairs, ask participants to share with each other how they are feeling

• Recap the previous session by asking 1-2 participants to share with the class, what they learnt and did in the previous session

5 Minutes

Opening Activity: Business Model

• Write examples of some companies and ask learners “How do these businesses earn money?”. 

• Let participants use internet if they don’t know about these companies’ business models

• Some possible examples:

• Saavn

• Ola

• Zoom (Video Conferencing)

• Boeing

• YouTube

• Keventers

15 Minutes

Concept Discussion

• Divide the class in 9 groups and ask them to open their hanbooks

• Involve them in a discussion by checking their understanding of business model

• Give 10 minutes to each group to read and understand 9 parts of Business Model Canvas. Each group will get to read and understand 1 part each

• After 10 minutes, ask group members to share their learnings

• Involve everyone in the discussion to ensure that all the participants understand all the concepts

• Explain: One of the greatest assets of an entrepreneur is that they think differently. This thinking drives entrepreneurs towards innovation.

20 Minutes

Activity: Business Model

• Draw the Business Model canvas format on the whiteboard 

• Tell the participants that they have to remain in the same 9 groups

• Tell the participants, “Before we go to use the business model canvas for our business ideas, let us try to handle a challenge. I am one of the founders of Flyrobe, an online rental service of designer clothes. I want to be a service that runs across India, such that my customers rent clothes only from me. I am trying to figure out my business model and you are my team members. So now, I need your help. You have already understood the parts of the business model canvas in detail, now you have to define the assigned part of the canvas for me. 

• You have 10 minutes for the exercise. 

• You may also choose to interact with any of the teams working on other components to get more ideas.

•  After ten minutes, each team has to come and present the answers they came up with for their component

• Feel free to ask me if you have any questions or doubts.”

• Give real time feedback to participants to ensure that they are doing the exercise correctly

25 Minutes

Project Time

• Tell participants to sit with their “business idea” groups

• Give them 10 minutes to decide 9 components of business model for the business idea they are working on 

• After 10 minutes, ask them to present their canvas to other groups to get feedback and suggestions from each other

15 Minutes

Closing activity:

• Ask any one group to come in front and share their business model in front of everyone

• Trainer can use this group’s business model as an example to share feedback and suggestions to guide participants

5 Minutes

Closing Protocol:

• Thank the participants for their time

• Announce the next time you will be visiting them

• Share the topic of the next session

• Collect 1-2 most interesting activity sheets/artefacts from students and show to Nodal officer and institution head after session

• Click pictures of the artefacts for documentation

5 Minutes