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A business model consists of nine essential building blocks: customer segments, value proposition, channels to reach customers, customer relationships, revenue streams, key resources, key activities, key partners, and cost structure. To effectively visualize and design the business model, a structured canvas known as the business model canvas is used. Each building block plays a crucial role in creating value for customers and generating revenue. Customer segments represent the people or organizations you serve, with specific value propositions tailored to each segment. Mapping out these building blocks on the canvas helps in discussing and inventing new business models.
