Creating a Winning Business Assignment 2 Workbook

This workbook provides guidance on creating a winning business model canvas, with a focus on iteration and reflection. It includes key partners, activities, resources, cost structure, value propositions, revenue, marketing and sales, customer segments, product and service delivery channels, and more.

Creating a Winning Business
Workbook:
Business Model Canvas - Iteration and Reflection
Student Id: [type here]
Lecturer: [type here]
Submission Date: [type here]
NOTES
1. You should stick to one page for each of the parts. To achieve this, you may reduce the font size if needed (no smaller then 8) and you can delete the
guidance words in italics
2. Make full use of the Guide questions in italics in the Workbook
3. For Versions 2 and 3 of your BMCs – you ONLY need to show the changes from the previous version
In the box below, please explain in simple terms, your business idea. Maximum of 100 words
Page 1
In this modern era most of the people may face issues with translate document service so on the basis of this the idea was set up with the
main purpose of business is to provide people with services such as translating, legalizing and interpreting service. This idea of business will
make working easier for people to improve their knowledge as such growth of such translators as well as interpreters will hike by 2024. The
service will be provided to everyone at favourable prices so that they can make effective use of such resources by recognizing company as
valuable concern.

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
Cost Related Revenue Related
Key Partners
Interpreters
Software developers
Key Activities
The key activities performed for
business idea will be
 Translated service to
peoples
 Simplified document
translation
 Translated document
service would be legalized
to companies
Value Propositions
Affordable
The value propositions will have
provided by company is to help
people will the adequate solutions
and form new opportunities for
audience who is required to utilize
such translating facilities to make
their working easier. By delivering
such value to customer it will
encourage them to contribution in
such allocation of resources.
Marketing & Sales
Communication
The message will be conveyed
through online platforms for
promoting such service offerings to
numeral customer. By social media
it helps to gain attention from
various audience and tend to rise
the demand for product.
Customer Segments
The specific audience for this
would be people from all age
groups segmented underutilizing
of such services.
As it was found that the people are
facing issues when it comes to
have translation related services.
On this behalf, some segments are
identified and the base of such
segmentation would be different
domains form where people are
coming to ace such services.
Key Resources
For performing business idea, the
provision of service will be carried
through as such
 Online websites course
material
 Skilled interpreters
 Software's or applications
 Social media platforms
Product & Service Delivery
Channels
There is need to articulate best set
of channels so can ensure better
and barrier less flow of services.
With this regard these are some of
these channels which are to be
taken into consideration-
 marketing
 Social media
 Online websites
Cost Structure
 Cost of translating software
 Applications and software development
 Maintenance cost
Revenue Related
Customers will only have to pay for valuable service of language service providers without
any additional cost. They can pay via several payment modes and access to be the part of
getting lucrative services.
End of page 2
Page 2

Business Model Canvas Version 1: Reflection (Maximum 400 words for the page)
Explain the history behind your idea: The idea of starting and providing such
services was desired with founding of problem in market when looking for translate
document for myself at favourable price where I can't find it. There were very least
opportunities in foreign languages which is most essential to make working criteria
much easier. The idea was summed up seeking attention to this methodology to
conduct language service provider business idea (Ogundokun and et.al.,
2021). The intention to develop this facility will be supportive in many concerns
where people will engage and enhance their work efficiency to standard outcomes.
While conducting the market analysis it is been found very least people are
concerned with such service facilities. So the ideas were drawn to accept those
strategies to implement in culture and drive the people concern towards essential
aspects.
Reflection:
The term reflection states process aligned with thinking and investigate issue
regarding with specific concern that may be triggered by experience. For various
studies and projects the reflections are performed which states the personal
learning outcomes and knowledge gained through the overall process.
Action learning set is the set of group or team in workplace to make effective
contribution to solving problems of workplace. The effective teams work more
efficiently and contribute to the organization success. It can be on the basis of task
or project which may be used by team to procure the effective changes. On the
other hand, it will be more effective than reflection because it facilitates individuals
to reflect on work basis problems as well as share with others. As result developed
actions and decisions are taken at workplace will be result in changes. The main
purpose of ALS is to come with set of realistic actions which may be helpful for
solving or understanding issues by own.
Assumptions:
The major assumptions for this are aligned with reflect outcomes of this process
which describes how it will benefit and make the competitive edge. On the basis of
my personal research it has been it is mandatory to have such translating or
interpreter facility and it will tend to grow taking place at higher standards. The
assumptions will be formed to execute the business opportunity and response
towards such facilities by audience. As compared to other market competitors
business is set with basic fundamental to procure affordable pricing and assuming

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
that people are suitable with utilizing such facilities.
End of page 3
Page 4

Business Model Canvas Version 2: After the Pitch (just provide changes since last version) Maximum 400 words for the page.
Cost Related Revenue Related
Key Partners
The changes in business
environment are developed as
concerning to such alterations
being met. While having skilled
interpreter business has engaged
and introduced key relations with
several online platform to avail
their facilities to target segment
Key Activities
As compared to other translation
companies it is taking expansion to
higher extent and grown its scale
as compared to last year. The
adequate methods of conducting
the marketing and promotional
activities are the key sources for
forming customer relations.
Further customer relations is
major concern for business for
developing competitive edge in
industry.
Value Propositions
New technological availability and
various opportunities to earn.
The main value of the organization
would be to transmit the apex
sense of superiority to its clients.
Along with affordability the best
quality of the services is supposed
to be provided.
Marketing & Sales Communication
As discuss in previous chapter the
changes are rise in marketing and
communication segments which is
raised to higher extent.
 Promotional events
 Social media
advertisements
 Emerging websites
 Mobile applications
 Voucher digital ads and
paid ads
Customer Segments
Legalized companies creating the
significant impact of resources by
promoting facilities.
The market can be divided on the
basis of customer needs. The best
way to create segments would be
on the basis of frequency of such
customers to ask for such services
Key Resources
Same as previous chapters.
Product & Service Delivery
Channels
 Online courses
 Online videos
 Online teaching materials
 Translator documenting
applications
Cost Structure
 Legal and settlement cost
 Platform maintenance
 Launch events and marketing expenses
Revenue Related
Customer will pay for the same valuable prices and it will remain constant to provide most
efficient services at affordable pricing strategy. Also, user may take subscriptions from
mobile applications and pay only for minimal amount
End of page 4

Business Model Canvas Version 2: Reflection (Maximum 400 words for the page)
Pitch: The purpose of formulating this pitch is to drive the significance of
translating service which is going immensely towards better further development
outcomes. While preparing the pitch it enhanced my knowledge regarding to
software and various kind of resources required for development of document
translating. I observed that growth rate of these services is being transformed to
higher extent and it can be used as start-up to provide affordable price range to
customers.
Assumption Testing: While testing the various assumptions it helps to identify the
challenges and trends which will met in serving business activities. The challenges
occur in further development of such activities due to there are various rivalry
aspects which may rise as well as due to rise in technological concerns it is essential
to make further development. So the main purpose of uplifting some of those
challenges drive the significance of business service catering good value to
consumer output
Comment on your Action Learning Set: The suggestive measures are provided for
utilizing new adequate technological software and various technological factors.
While providing the interpreter facilities are not favourable in every aspect, it has
been observed that technological teaching and learning drive people intention
toward specific product or service (Biomedical Data Translator
Consortium, 2019). Also, the group of working people in Google-us-up such as
interpreter service providers must be skilled to provide better results. There is a lot
of software and technological concerns which needs to manage and upgraded to
procure the stabilize positioning.

Business Model Canvas Version 3:
End of page 5
Page 7

Business Model Canvas Version 3: Final Refined Version (just provide changes since last version) Maximum 400 words for the page.
Cost Related Revenue Related
Key Partners
Same as previous two chapters.
Since the taken partners are
having great capability to serve
our mutual interests.
Key Activities
The change in new emerging
technology will implement in
software upgrades.
Value Propositions
With development of such newly
developed software and expansion
will add value to customers and
the changes bring for such process
are
 Easy access to files
 Better interface of
applications and websites
This will help customers to solve
their issue and assess to the basic
or fundamental requirements to
accomplish their level of
satisfaction.
Marketing & Sales
Communication
Enhancement in advertisement
tactics and market
communications.
Customer Segments
The target segment are same as
previous chapters, but only change
has taken growing the business
idea to drive the attention from
several people carry out the better
result to company norms.
Key Resources
Expansion of online websites to
higher extent.
Product & Service Delivery
Channels
How will our customers purchase
and receive the product or service?
What about after sales support
e.g. returns? Where will the
marketing communication direct
customers to?
Type here:
Cost Structure
 Research and development
 Technological software development
 Labour cost
These costs are related to the basic requirements which favoured by business to utilize its
resources.
Revenue Related
The customers who are making orders on regular basis would be given sort of discount or
some other types of offers in order to keep them retained. At the same time, as per the
changing market dynamics some changes are supposed to be inculcated such as Price
discrimination policy etc. Revenues of the organization are given higher priority due to their
ability of keeping the operations efficient.
End of page 6

Business Model Canvas Version 3: Reflection (Maximum 400 words for the page)
Iterative Journey: While preparing the market analysis several ideas were occurred
at the stage where the documents can be easily access through the translated
services. There were several assumptions taken into considerations that predicts
the further growth and stability of business. On the other for those the possible
outcomes are favoured to which how it will impact the chances for business to
grow in language service providing industry. In the beginning of the business a
range of people were not aware of this services and even after starting the
business I found that there are multiple segments in the society who are having
such needs. For instance students are also facing such perils where they are striving
to bring such notions. It came into my congnigence and can be served in the best
manner.
Competitor Insight: The Direct and indirect competitors make the difference as
such direct relates the possibility of same product or services being offered in
marketplace. On the other hand, indirect competitions are those having different
product and service but has the ability to satisfy the need for same need and
achieve the same goal. Similarly, competitors Translating documenting service are
seemed with charging of higher prices which may drive the significance to Google-
us-up. Direct competitors such as NordicTrans, Translations Experts who belong to
same segment is trying to dodge the process of catering such services but due to
unfavourable price concerns people are unable to make adequate expenses. While
the Google-us-up has the ability to make affordable pricing for peoples which
formulates the huge differences as compared to competitors.
Cost & Risks: The maintenance and development cause drives the most
significance obstacles while delivering the project. Such cost measures might be
overcome by adequate planning the project for developing software and adding
some effective changes, most of the software and maintenance may leads to higher
funding (Fitria, 2021). Also, the requirements for the project will be presented
through great detail and accuracy to enhance the effective software working and
ability to develop the customer relations. The easiest way to reduce the cost might
be familiar with eliminating chance of unclearness on how software is to be built.

Business Model Canvas Version 3:
End page 7
Page 10

References
List of Web Resources (at least 3)
List the web sites that you have used for your research. Note: you don’t have to cite
them using the Harvard author-date format in the previous pages; you can just list
them here e.g.
http://grasshopper.com/blog/startup-competition-guide/
Academic Sources (at least 3)
These should be listed in full Harvard Format below and in author-date format in
the earlier pages e.g. on page 3 you might say “reflection is a form of looking back
(Smith, 2014)” and below you would cite this fully:
Smith J. (2014) Theories of Reflection, 2nd. Edn., Prentice Hall: London
Ogundokun, R.O. and et.al., 2021, February. An android based
language translator application. In Journal of Physics:
Conference Series (Vol.1767, No. 1, p. 012032). IOP
Publishing.
Biomedical Data Translator Consortium, 2019. Toward a universal
biomedical data translator. Clinical and translational
science. 12(2). p.86.
Fitria, T.N., 2021. A review of machine translation tools: The
translation’s ability. Language Circle: Journal of Language
and Literature. 16(1). pp.162-176.
End of page 8

Business Model Canvas Version 3: Final personal career & action plan (Maximum 400 words for the page)
Continuing personal career development: reflection and action plan
Critically reflect on your experience and challenge faced and the abilities you have developed
While performing this project it helped me to identify about my strengths and weakness which can be improved for further development. I observed that I am having poor
problem solving skills which is essential to analyse problems and create effective solutions. Also, I found that there is lack of time management skills that may be crucial and
applied over day to day basis as well. I learnt that these skills are lucrative for business concerns to manage or schedule effective working. Apart from this covering my
strengths I observed that I am having effective communications skills which formulates various benefit outcomes. The better communicating skills mitigate conflict issues at
workplace and it improves and forms better relations with others. But these skills should be developed to higher extent for which I will make effective solutions covering
throughout the action plan. By working on this project the basic set of skills such as data analytical, language and writing skills are also needs to be focused for further
development.
.
Personal action planning:
Skills need to be improved The essential support and resources
required
What do I have to do and how it can be
measured?
Time period
Time management skills For this I will be requiring books and
various internet sources to make
effective scheduling.
I would be completing my task and
projects on the basis of strategy is
formed by me. I will measure it through
time consumed in compelition of specific
task.
1 month
Communication skills I might require the support of
professional, particular books and use of
internet to watch videos.
I will communicate with more and more
people to increase my knowledge and
fluency in effectively communicating
with others, I have to practice a lot on
this to acquire the good efficiency. I will
monitor the progress of this by such
2 months
Page 12

practices and changes made in specific
time period.
Writing skills The resources for this require would be
books and test papers.
I will perform and manage to write
better quality content and check for
mistakes which are being made for
enhancing efficiency. For monitoring, I
will consider through my seniors to
analyse my process and provide
adequate feedback for further
improvements.
1 month
Data analytical skills Data sets, analytical tools, internet
will be required as lucrative
resources.
I will analyse data on a daily basis
from availability of secondary and
primary sources. I must be checking
the accuracy of data taking help of a
professional in order to increase my
overall productivity.
1 month
Page 13

End of page 9
APPENDIX: Summary of Evidence of testing your MAIN assumptions (Maximum 400 words for the page). PLEASE provide detailed
information about your testing.
List your MAIN assumptions (No more than
3)
How did you test the assumption? (E.g. Give
details of who was approached; how many;
how you contacted them. OR any partners
contacted).
Summarise the results of testing. (E,g, % of
people liking your product/service; any
positive and/or negative comments etc.)
Expansion in different countries
Digital services can be provided by the
business to different nations which will help it
to increase its market share.
It will be convenient for the people to gain
translating services with the convenience of
their home anywhere which will have a
positive impact on them.
Positive
Collaborating with established businesses
Adding stable companies within the business
will be a smart move which will be useful to
grow in the industry.
The customer base of different companies will
increase with the help of this collaboration
which will improve their stability in the
environment.
Positive
Advertising on digital channels
Promoting their services on popular social
media platforms will be beneficial for the
Positive
Page 14

business to generate awareness among the
customers.
The effective feedback from customers on the
posts will provide better idea to the business
to increase their productivity.
Page 15