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An organization's business model consists of nine basic building blocks: customer segments, value proposition, channels, customer relationships, revenue streams, key resources, key activities, key partners, and cost structure. Mapping out these blocks on a structured canvas called a business model canvas helps design new business models. Customer segments are the people or organizations you create value for, with specific value propositions for each segment. Channels are used to reach customers, with different customer relationships established. Revenue streams are generated, and key resources and activities are required to create value. Key partners and cost structure are also important components of the business model.
