Social Enterprise Incubator Series: Business Model Canvas
In our Social Enterprise Incubator Series, we follow 15 incredible social entrepreneurs who are leading the road to change with our Incubator Programme.
Get a glimpse into their challenges, developments and lightbulb moments as the cohort shares their experience over the 6 month programme!
Since the first time I was shown a Business Model Canvas (BMC) it looked like a daunting task.
To be honest, I was so challenged the first time, I was thinking of all the different ways I could ignore it. But I knew eventually I had to face it. The first time I tried to complete the BMC for Mental Health: TheArts (MHTA) it was a fail, though the second time was a bit easier- after watching a couple of videos and other examples of a BMC. I think it’s sometimes hard to put your vision or dream on just one sheet of paper, but it’s needed when you need to show others how your social enterprise works.
When I did the BMC workshop with Hatch Incubator, I knew it would be easier and I would be able to complete it, because I was already familiar with the terminology and what each section meant. This workshop allowed me to simplify MHTA and focus on my business model. It visually allowed me to see the different parts of my business that would ensure that I have a sustainable model. The most challenging section of the BMC for me was the Revenue Streams. I know with time I will able to cost my service according to its value with more confidence.
As a result of this workshop, MHTA is no longer just a dream in my head but it has a sustainable business model and through the BMC workshop I have been able to plan and implement different elements which will ensure MHTA has a long-lasting impact.
Watch this space as we share more posts by the incredible change-makers on our Incubator programme!