Event – WEBINAR ON THE BUSINESS MODEL CANVAS
Date – 18th June, 2021.
The webinar was conducted on the 18th of June,2021 via MS Teams for the Mount Carmel Autonomous students. Around 100 students along with the faculty attended the live session for insights from the successful director of FirstHive. The speaker spoke the attendees through the basic format for starting a business. The session was for 2 hours starting from 10:30 am till 12:30 pm. Mr. Avinash Raj guided through the 9 squares of the business model that points the 9 essential segments of running a successful startup. The first 3 years of a start-up is a crucial time for keeping the business viable and avoiding possible losses to maintain a no-profit no-loss, break-even point. The following strategies of BMC would help maintain the equilibrium of a startup. CONCLUSION – BMC is different from a Business plan. You do not show it to the investors and banks. It’s for laying out a plan in the initial stages of a business and formulating a basic plan in order to determine your cost structures and future prospects. You can assess who are your target customers, who are the competitors.
You can also show it to your friends, family, employees so they can see your vision and judge the viability of business.