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In this lesson, we explore the business model canvas, focusing on nine steps to develop your first business model. We'll examine real-life examples to clarify the concepts. A business model is defined as a plan for successfully operating a business, detailing revenue sources, target customer bases, products, and financing aspects. Essentially, it illustrates how the key drivers of a business align. Capturing this information in a lengthy document can be cumbersome and challenging to manage mentally, making it difficult to work with effectively.