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In today's lesson, we explore the business model canvas and the nine steps to create your first business model, along with relevant examples. A business model is defined as a plan for effectively operating a business, including identifying revenue sources, target customer base, products, and financing details. It illustrates how the key drivers of a business align with one another. Capturing this information in a traditional document can require multiple pages, while mentally organizing it can be complex and confusing. The session aims to simplify this process using the canvas methodology.