Therefore, when designing a business model, it is crucial to understand and design the interrelation and the exchange of value between your company and all the different stakeholders that are involved in your business model such as your customer, different partners, or interest groups. The value that is exchanged can be money, a product or a service, but also reputation, access to a market or data.
Use the Value Network as a tool to:
- Understand relationships
- Design value streams
- Check and design interrelation between your company and your stakeholders
- The Value Network is easy to apply
- Understand the general structure of a business model
- Understand interrelation between stakeholders and their influence on the success of your business model
- No information on how the company itself creates the value
- No information on growth strategy and competitive strategy of the company
To start designing your value network write down all stakeholders involved in your Business Model? If you don’t know all of your stakeholders yet or if you have multiple stakeholders we recommend to use the tool Stakeholder Map first.
Choose your most relevant stakeholders for your business model by answering the questions: Who is your customer? Is your customer also your user? Who do you need for realizing your offer?
Analyze all relationships and identify the most crucial assumptions. An example could be that you partner is paying you money for certain information or that you meet your customers needs with your solution. Use “Testing Tools” to verify your assumptions.