Creating Your Dream Business with Idea Mapping

Starting a business
When starting a business, it can be exciting and daunting at the same time. You
might have a brilliant idea running in your head, a great product design or a
service that the world needs, but you’re not sure how to get the customers or
how even it all comes together to turn your idea into a successful business. This
usually leaves you feel a bit overwhelmed and looking for the things that you
should know.

Things that you may have right now and you need to explore:
• Idea – Something that you are passionate about.
• Product or Service – Something that is saleable.
• Customers – What is the problem we are trying to solve for them.


Goals of having a successful business

There are many reasons why you may have chosen to go into business. Before
we get into the “How” to make you business a success. We need to start by
bringing clarity into what is our goal. Some of the questions you can ask yourself
that will help you get started:
• Where are you going?
• Why did you start your business?
• What is most important to you?

Things that you might also consider as the motivations to start a business:
1. Financial – Why is money important?
2. Flexibility – Why do we want flexibility?
3. Family – How will a successful business impact my family?
4. Vision – What is your vision for your future?
5. Serve the world – Serving humanity
6. Necessity – What are we trying to improve?

Business Mapping
Business Mapping is an entrepreneurial tool. It allows you to describe, design,
challenge, invent and pivot your business model.
The Business Map is comprised of 9 key segments:

1. Value Proposition
The products and services your business offers to meet the needs of its
customers.
What value do you deliver?
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What customer problems are you solving?

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What customer needs are we providing?

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What product or service are we providing to each customer segment?

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2. Ideal Customer
To build an effective business model, you must identify which customers are you
trying to serve.
Who do you want to sell to?
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Who are the most important customers?

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3. Channels
A business can deliver value proposition through design channels.
How are we going to reach our customer?
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How are we reaching them now?
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Which one works best?

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Which is the most cost effective?

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4. Customer Relationship
To ensure the survival and success of any businesses, they must identify the
relationship.
What type of relationship are we going to have with our customer?
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What relationships have been established?

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How does it fit in with the rest of the Business model?

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How costly are they?

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5. Revenue
The way your business makes income from each customer segment.
What price are our customers willing to pay?
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How are they going to pay us?
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What is the breakdown of each revenue stream against the entire revenue?
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How do they prefer to pay?


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6. Key Resources
The resources that are necessary to create value for the customer.
What resources do we need to carry out our activities?
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What resources are needed to connect to our customers?
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What resources are needed for our channels?
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What resources are needed for our Revenue streams?
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7. Key Partners
This is to give your business external resources (Buyers/Suppliers).
Who are our Partners?
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What activities will our Partners do?
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Who are our key Suppliers?
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What key resources are we getting from our partners?

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8. Key Activities:
The most important activities that will be carried out in the business.
What are we doing to add value to our customers?
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What activities does our relationships require?
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What activities do our Revenue stream require?
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9. Cost Structures
This highlights the cost associated with running our business.

What is our cost to run this business?

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What are the most important costs?
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Which cost are the most expensive?
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