Creating a Winning Business Assignment 2 Workbook

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
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