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January 10, 2013

Business Model Fiddle – Explain Your Business Proposition

Being able to describe your business model in a clear and concise way is one of the keys to soliciting feedback and securing funding. Unfortunately, explaining a complicated model to someone in five-minutes or less can be challenging, to say the least. Business Model Fiddle is a web-application that gives entrepreneurs an easy way to share their business ideas with the click of a button.

The general idea behind Business Model Fiddle is that every successful business model is made up of nine basic building blocks: customer segments, value proposition, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure. Business Model Fiddle gives you a way to map these building blocks out on a digital canvas. Create your own canvas from scratch, or use one of the templates that Business Model Fiddle has created. Add your own information to each building block, making sure to type up any necessary explanations or instructions for how your company plans on accomplishing each element. The concepts you add can be moved from block to block, or deleted altogether and added to your information archive. You can also add “assets”—which are images or drawings—to your canvas to better explain your ideas.

When your canvas is complete, just click “print” to share it with potential investors and business associates. Business Model Fiddle canvases look great when printed on legal-size paper. You can also use the “list display” mode to print everything you’ve added to your canvas out as a list.

Practical Uses:

  • Create a better business plan
  • Share your ideas for a new online startup with potential investors
  • Develop a presentation that shows where your business idea is going
  • Secure funding for your business

Insider Tips:

  • Each project is assigned a unique code that people can use when viewing it online
  • Most of the data contained in a Fiddle is only viewable when the owner is signed in
  • Items can be dragged and dropped into new blocks and stacks
  • Deleted items are automatically added to the archive

What we liked:

  • Entrepreneurs can use Business Model Fiddle to help explain large concepts
  • People can create their own canvases from scratch or choose from one of Business Model Fiddle’s many templates
  • Only a creator can edit his or her own project
  • Users can disable the ability to move items within their projects

What we didn’t like:

  • Users can’t copy their “assets” into new Fiddles

Alternatives:

  • None

Company Info:

  • Privately Held
  • Headquarters: Christchurch, New Zealand
  • Founded by: Orbital
  • Web site: http://bmfiddle.com

Costs:

  • Free

Comments

  1. Thanks for reviewing Business Model Fiddle.

    Some more details on items:

    There are 3 privacy settings: Gallery, Link (default) and Private.

    Gallery is not used at present, in future it will allow you to link to a board showing all your fiddles with this setting. Gallery fiddles are effectively public.

    Link is the default and allows anyone with the link (unique fiddle code) to access you Fiddle.

    Private only allows access to people who have signed in with one of the email addresses you authorize.

    It’s also worth noting that anyone can “fork” a fiddle my simply clicking the fork icon. The fiddle is then assigned a new unique code and you can edit it and save. This is a great way to get students or teams started by providing an initial example Fiddle that they can fork and change to suit.

    The Fiddle author can enable which items are displayed and copied when the Fiddle is forked.

    We will be providing a shared Fiddle option this month. It will allow email addresses you authorize to to edit/add items to the fiddle.

    The snapshot feature allows you to capture the canvas and then review changes over time.

    Lastly you can Fiddle off-line. Not all functionality is available offline (for example asset uploading) .

    thanks again for reviewing Business Model Fiddle

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