Business Model Canvas – FREE Session
As part of Business Yard commitment to the support of the young entrepreneurs in Egypt, a free session was held this month to introduce the concept and the tool of the Business Model Canvas (BMC).
This one of our series of FREE sessions aimed to spread the spirit of small business and entrepreneurship in our society and encourage the youth to knock non-traditional doors to combat the high unemployment rates in Egypt.
The discussion was not limited to the BMC tool and techniques, but it extended to discuss many of the critical questions and issues usually faced by the young entrepreneurs who are about to start their own project to business.
The life cycle of the startup or the new business were explained to the audience highlighting on the major challenges in each stage:
- Converting an Idea to a prototype
- Converting a prototype into a product
- Converting a product into business
- Making profits out of your business
Many of the startups and new businesses fail at different stages, some fail in converting a great idea into a product, while others succeed in building the product but fails to have a business model around it (i.e. unable to sell the product to customers).
Moreover, being able to sell a product isn’t the end of the story; the entrepreneur will then face the challenges of efficiently operating and running a business around the product, and eventually to have the sales covering the costs!
Thanks to our volunteer mentor Eng. Ahmed Bari who shared his experience and knowledge with the attendees and we hope they enjoyed this free session as much as we did.
To download the session’s presentation , please click on the link below:
To view more photos for the event, please visit Businessyard’s events page on Facebook: