Business Model Canvas - Iteration and Reflection for Desklib

This article discusses the Business Model Canvas for Desklib, an online library for study material with solved assignments, essays, dissertation, etc. It includes the initial idea, reflection, and refined versions with changes made in each version. It also covers key partners, cost structure, key activities, key resources, value propositions, customer segments, and revenue-related information.

Creating a Winning Business
Project 2 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
The business idea is launching 4alltravel application. It is found that due to covid-19 and strict guidelines of pandemic, people became
bound to be at their home for 2 years. For making themselves refreshed, they are trying to find an escape and for making bookings for
hotels and flight tickets, people visit an average 32 websites. 4alltravel application can solve problem of people that they face while making
booking as they visit number of websites. But with this app, they can make the best deal. This application gives notifications and people can
find easier in knowing the best price for flights and accommodation and can enjoy their journey.

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
Cost Related Revenue Related
Key Partners
 Travel planner
 Drivers
 Investor
 Customers
 payment processors and
map API providers will be
main stakeholders of this
new business.
Application developer and
software specialist will be suppliers
for this business.
Some activities that would be
played by stakeholders in order to
make this business idea successful
include: promoting application,
making people aware about this
application, review feedbacks,
financing and customers’ need
identification.
Key Activities
There is need to perform key
activities with the main aim of
delivering value to customers.
Some key activities include:
 App development and
enhancement.
 Sales promotion in order
to acquire customers.
 Management of drivers’
pay-out
 Clear communication with
customers as well as
partners.
 Customers’ acquisition
and marketing
 Hiring experienced drivers
Value Propositions
As the business idea is to develop
4alltravel app with the main aim of
making customers’ beneficial and
saving their time of booking
accommodation and other
services. Values that it will provide
to app developers and drivers
include:
 Opportunity to earn and
make profit.
 Ease to access number of
passengers
 Flexibility in choosing
working hours
Values that this idea will provide to
riders include:
 Security and safety
 Cashless ride
 Easier transaction
 Lower prices than normal
prices of booking
Marketing & Sales
Communication
Social media will be used to make
people aware about this business
idea and 4travel app by which they
can make bookings as per their
needs.
Customer support is considered as
one of the main source and ways
by which they can be satisfied and
communicated in an effective
manner.
Review, rating and feedbacks
solution can also be the best ways
of communication and marketing
of business idea with customers.
Customer Segments
General people who loves to travel
and often make their hotel and
travelling booking via mobile apps,
will be our customers.
People who want to travel in
luxury.
Software development will also be
our customers
Key Resources
For performing all discussed
activities for this new business
idea, there will be requirement of
internet network
 Digital social media
platform
 Software developers
 Customer service
providers
 Technology talent
 Brand image creator
Product & Service Delivery
Channels
Website
For android users, there will be
requirement of mobile app
Social media
Media coverage
Cost Structure Revenue Related
Page 2

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
Customer acquisition cost
 Legal cost required for taking advise for application development
 Insurance cost
 Research and development
 Software instalment
 Application development cost
 Content development
 Platform maintenance
 Marketing expenses
 Surge price
 License fee
 Membership fee
 Reviewers fee
 Page visitors
End of page 2
Page 3

Business Model Canvas Version 1: Reflection (Maximum 400 words for the page)
Explain the history behind your idea:
From market analysis, I came to know that people are trying to go for holidays.
They have spent almost 2 years at their home and in their local city due to covid-
19. From general conversation with people regarding travelling and process that
they follow for bookings, I came to know that they visit at least 20-32 websites.
After covid-19, some people are taking undue advantages of this online market as
they are launching apps and fake websites and attracting customers for booking.
Customers find difficulties in identifying reliable websites and applications from
which they can make their accommodation and travel booking. It takes their time
and make them frustrated. So, for helping out people as well as earning money, I
have thought about this idea.
Also, I believe that with the help of this idea, I can protect people from fraud and it
can increase awareness among them.
Reflection: What do you understand by the term ‘reflection’? What is an ‘action
learning set’ and why might it be more effective than individual reflection?
Type here:
In regard to reflection, I can say that it is the best way to analyse and evaluate any
event and memory as well. In reflection, we can see our image as what we are and
with reflective writing, we can analyse our experience with the main aim of
identifying strengths and weaknesses as well.
In regard to an action learning set, I can set that it is refers a group of people within
a workplace who meet and work with the main common aim of solving workplace
problems. It is more effective than individual reflection because in action learning,
people work altogether collaboratively. They all use their strengths but in individual
reflection, we cannot complete tasks if we have number of weaknesses. But as per
the action learning, we can complete tasks in a timely and effective manner
because we have support of all other people. So, on the basis of this, I can say that
team working and action learning set is much effective than individual reflection.
Assumptions: What are the main assumptions behind your business idea? How
could you test those assumptions?
Type here:
I made assumption that I can increase sales by 200% in second year of developing
this business.
I made assumption that with the help of this business idea, I can become the
market leader and can get customers’ base to the great extent.
I believe that these assumptions can be right or as certain to happen but for
making it real, I need to strive hard and focus on satisfying customers’ needs.

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
End of page 3
Page 5

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
As some key partners have
mentioned above who can help
out in developing this business
idea and making this business
successful.
Some key partners that have
added in this version include:
 Hotels
 Food delivery platform
 Search engines
 Content developers
 Travel agents
Key Activities
 Customer’ relation
management
 Promotion
 Guide customer journey
 Increase value proposition
and promotional activities
All these added activities in this
new version can make able to app
launcher in increasing awareness
among people and influencing
them for buying its services.
Value Propositions
Some changed and added value
that this business idea and new
app can provide to travellers
include:
 Better travel planning
 Risk reduction
 Collection of useful travel
content
 Application as travel
companion
 Candid review for better
decision making
 Improving experience at
cheapest price
Marketing & Sales
Communication
Improving customers’ relation is
one of the main key of success of
business and for becoming
successful, some changes have
done in communication channels
such as:
Trustworthy review to customers
is the best way of communicating
and improving relations with
them.
Commission
Social media platform as a mode of
clear communication.
Customer Segments
Customers will be targeted on
some relevant basis such as:
Geodemographic
Behavioural and demographic
Under these segments, those
people will be targeted who are
above 18 years, professionals who
often go outside for business
purpose. People of middle and
high income.
For hotels about which
information to customers will be
given include:
 Star and user rating
 Best property type
 Affordable
 Proximity
 Type of infrastructure
Key Resources
Some resources that have added in
this version with the main aim of
making this business idea
successful and completing all
important tasks include:
 Websites and apps
 Users’ experience
 Global network
 Users’ data
 Deep inventory
Product & Service Delivery
Channels
Some channels have also been
added in this new version with the
main aim of providing services to
customers in a timely and effective
manner such as:
 Direct e-mails to users
 Ad channels in TV
 Subsidiaries
Cost Structure
There will be requirement of high investment and overall operational and capitalised cost
for launching this app and business idea will be:
Sales and marketing: approximate $700m
Tech and content: Approximate $230m
Revenue Related
Revenue that will be generated highly include: click based advertising and transaction
revenue: approximate $700m
Display based advertising: $280m
Other revenue: $140m

Business Model Canvas Version 1: Initial Idea (Maximum 400 words for the page)
Tax and G&A: approximate $ 140m
Capitalised cost
Assets (property and equipment): Approximate $250m
Goodwill: approximate $730
Intangible asset: approximate $165m
End of page 4
Page 7

Business Model Canvas Version 2: Reflection (Maximum 400 words for the page)
Development of pitch: In regard to this, I can say that I took help of successful app
launchers in order to know their techniques of attracting people. For making pitch
effective, I made use of keywords and main business idea in summarise form. The
main aim of developing this pitch was making people aware about business idea
and its effectiveness. I believe that my communication skill helped me out in
delivering pitch in a successful manner. Communication and presentation skills play
a vital role in increasing interest of people and delivering presentation with
effectiveness.
Assumption Testing: The assumption has been tested within analysing the response
of the customers. While analysing market it has been found that customer does not
like to stick over the same type of services for a long period of time they seek for
changes and when they do not find any kind of change then they shift over different
services. Therefore, in the next version, the business Canvas model has been updated
on the basis of the requirements of the customers so, the customer can become
satisfied. The key partners have been changed which now in this version includes
hotels, food delivery platform, search engines, content developers and the travel
agents. Also, the key activities in this version was completely entitled with focusing
over the customer satisfaction so the customers can become highly satisfied. In the
value proposition the focus has been made over improving experience at the
cheapest price. The focus is being made over the customer experience.
Comment on your Action Learning Set: The advice that has been proven beneficial
for me was that taking action after analysing the current market situation as it helps
on taking proper and correct action. Coordination among the group members has
been proven effective and effective interaction among the group members can be
implemented in terms of establishing effective communication among group
members.

Business Model Canvas Version 3:
End of page 5
Page 9

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
As major key partners have been
mentioned above that can help
effectively in enhancing the
business from all aspects.
However, key partners must be
monitored and added in
accordance with the time
therefore, other key partners that
are being included in this version
are-
 Influencers
 Restaurants association
 New suppliers
 Business consultants
 Hotels that provides
holiday packages.
Key Activities
 Customer feedback
system.
 Ratings on social media
 Mapping the customer
journey path.
 Allowing discounts to the
regular customers.
 Reviewing the feedback of
customers and taking
actions.
All of the mentioned above
activities are the key activities that
has been added after the last
version on the basis of knowing
and analysing the market. These
activities help in approaching the
customers.
Value Propositions
The major new added value which
helps in adding effectiveness in the
business idea and enhancing the
satisfaction level of customers
includes-
 Easy booking over app
 Luxurious experience
 Well-trained agents will
be provided
 Quick service
 Quick responding.
Marketing & Sales
Communication
The offline modes of promotion
will be preferred that includes
public relation camps. With the
help of this direct interaction can
be created with the customers and
their queries can be solved within
making face to face interaction.
Also, the awareness in relation of
the new benefits that business
provides to customers can be
communicated.
Customer Segments
In this version business
organizations have been targeted
as customers. As business
organization provides holiday
packages to their employees and
also conduct business travel tour.
Therefore, those business
organizations will be approached
and bookings will be made with
them and the travelling has been
mapped.
Key Resources
The major resources that are
required for performing the
selected key activities in business
that ensures higher benefits to the
business. Thus, the key resources
are-
 Professionalised team
 Internal communication
tem
 Financial resource
 Digital resource
 Communication resources
Product & Service Delivery
Channels
The new mode of channel has
been added in this version that will
influence the customer satisfaction
in effective manner which leads to
attract the number of customers
towards the business. The new
added product and service delivery
channel includes:
 Text message to
customers.
 Making contact with
customers.
 Making official website.

Business Model Canvas Version 3:
Cost Structure
In this version the cost has been increased in order to assure the high class service to the
customers. The high amount of investment is required in order to cover the over-all
operational and other cost which lead to launch app and business idea which involves-
 Digital cost- $500m
 Tax- $150m
 Campaign cost- $200m
 Business consultancy cost- $300m
 Physical resources - $300m
 Approaching professionals- $500m
Revenue Related
Revenue that will be developed will mainly include the major aspects that involves:
Online revenues- $800m
Bookings revenue- $500m
End of page 6
Page 11

Business Model Canvas Version 3: Reflection (Maximum 400 words for the page)
Iterative Journey: In this version the idea has been changed within creating keen
focus from both aspects whether it is from customer aspect and from business
aspect. The assumptions have been changed within including the other business
organization in the customer segment. The evidence that has been witnessed was
that customers are highly active over social media and they get easily influence
with the influencers. Therefore, in this version influencer has been involved as the
key partners. At the start of the module I was not aware that business
organizations often plan trips and tour and approach the tourism companies which
help them to map and guide in their journey and when I analyse the market I got to
know this and just afterwards in this version I have added business organization in
the customer segment.
Competitor Insight: Direct competitor refers to those competitors who provides
same kind of products and services whereas indirect competitor has been
determined as those competitors that provides substitute and similar products. The
direct competitors of the business are other travelling app that assures same kind
of services to the customers as they are offering same type of services at digital
platform. The indirect competitors are other tourism company as they assure
similar services to customers. The major learning that has been made in this
context is that it is important to provide focus over direct and indirect competitors
in keen way. However, the special focus in need to be made over the direct
competitors so, the appropriate action can be taken. The services that has been
provides by my business to customer is assuring effective satisfaction in cheap price
and this leads to differentiate it from the competitors.
Cost & Risks: The biggest risk and obstacles that comes in the project are related to
the funding or change of the taste of the customers this can leads to create the
biggest hurdles as when the funding is not available then many of the task cannot
be performed in effective manner. Also, when the taste and preference of the
customer has been changed then it leads to create the issues. This issues can be
overcome within implementing effective planning. Investors and debentures is
being approached for the venture that act as source of funding and assure funding
to business.

Business Model Canvas Version 3:
End page 7
Page 13

References
List of Web Resources (at least 3) Academic Sources (at least 3)
Travel trends that tourism service provides, 2021 [Online] (Accessed through)
<https://steelkiwi.com/blog/7-reasons-why-travel-industry-needs-mobile-apps/>.
11 Must have mobile app features for travel and tourism industry, 2020 [Online]
(Accessed through) <https://colorwhistle.com/travel-mobile-app-features/>.
Best Value Proposition, 2020 [Online] (Accessed through)
<https://sixads.net/blog/value-proposition-examples/>.
Sparviero, S., 2019. The case for a socially oriented business model canvas: The
social enterprise model canvas. Journal of social entrepreneurship. 10(2). pp.232-
251.
Thirunavukkarasu et.al. 2022. A business canvas model on vermicomposting
process: Key insights onto technological and economical aspects. Bioresource
Technology Reports, p.101119.
Carter, M. and Carter, C., 2020. The creative business model canvas. Social
Enterprise Journal.

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
The experience that I had during this session is concerned with the effective
experience that has helped me in terms of developing myself from all aspects. The
session has provided me the effective opportunity that has developed me from all
aspects. The major skills and knowledge that has been acquired by me during this
session is related with the business sector specific knowledge which includes,
communication skills, team work skill and decision making skills.
In order to reflect upon these skills that has been developed in me STAR approach
is being used that effectively reflect the scenario, task in situation, action and the
final results.
The communication skill has been developed in me while I have made
communication with the other members during the assignment earlier I used to
hesitate in terms of putting my opinion. However, the business canvas model has
provided me opportunity in which I have discussed the major concepts with my
tutor and mates as well and I have put my opinions as well that has enhanced my
communication skills. Another skill is related to team work, I used to think that
only one person can perform the task in effective manner. However, I got to know
that coordination among the members provides the effective outcomes. I have
given the group assignment in which at first I did not follow the instruction of
leader and that impacted the final result and when I started following the
instructions then my leader also started supporting me and it results in producing
effective outcomes.
The last skill is related to time management. Earlier, I faced the issues in relation
of completing the task on time. This time, I have parted my goal in different parts
and time has been allocated to each task. In this manner, I become able to
complete my task on time.
Personal action planning: now you have evaluated your abilities in the previous
section and in consideration of your future career action plan:
1) identify TWO skills/knowledge areas for further development i.e. you
believe you specifically need to develop further to realise your career goals.
The two skills/knowledge area that are require for further development are aligned
with “Decision making skill and Leadership skill”.
2) action plan as to how you planning to develop these two areas in the
near future with specific timeframes/deadlines
Skills Action Measuring criteria Time period
Decision making I will use critical
thinking approach
and then I will
make decision.
When my decision
starts benefiting
and shows
effective
outcomes.
6 months.
Leadership I will listen to
other person
opinion and try to
understand then
and I will provides
roles to them
according to their
interest.
When team
members start
cooperating and
the outcomes will
be proven
effective.
6 months.
Page 15

.
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? Summarise the results of testing.
Assumption related effective social platform
presentation- In this the assumption has been
made that effective social media interaction
The assumption has been tested within checking the
online response of the customers over 4alltravel
application. The contact has been made over the
social media platform. The number of customers
has been measured that had downloaded the
application and on the basis of the ratings has been
The results of the testing have shown that the
customer has liked the application and the
services in effective manner. As the ratings has
by the customers has shown that they have
linked the services and they want more
bookings. No negative comments have been
Page 16

created with customers. identified. observed by the customers that states that
customers are satisfied and enjoying the
application services.
Assumption related to revenue stream- The
assumption has been made that effective
revenue will be earned within approaching
number of customers.
The assumption in context of revenue stream
has been made in which it has been assumed
that the effective revenue will be earned along
with approaching the large number of
customers. The assumption is being tested
with the help of measuring the sales has been
made and number of bookings has been done.
The customers are liking the service in effective
manner and this can be witnessed with the help
of the sales has been made. Also, the revenue
has been increased that proves that number of
customers has been approach who have liked
the application and often those customers are
using the application on consistent form. Also,
positive comments has been witnessed by the
customers.
Assumption related to high customer
satisfaction- The assumption has been made
that the customers will be made highly
satisfied.
This is one of the major assumption that
involves all other assumptions. This
assumption is being tested with the help of the
software which is customer feedback system.
The customer feedback team is being
approached for testing the assumption in which
the interaction is made with the customers and
their feedback will be taken in consideration.
Positive comments depict that the success has
been gained.
The result of testing will show the thoughts of
customers in context of using application. Also,
the positive and negative comments of the
customers can be reviewed that will be helpful
for taking further decision. Therefore, this
assumption will be helpful in implementing
effective communication and understanding
with the consumers. Also, it will help in
understanding consumer behaviour in effective
manner.
Page 17