It takes a tremendous amount of planning for a business to get from just an idea to a profitable company. Essential to this process is the formulation of a business plan.

A business plan will form the framework for your business. It allows you to consider all the various aspects of putting a business together in one legible document.

A strong model of your business should ideally include the 9 Key Building Blocks:

1. Customer Segments
2. Value Propositions
3. Channels
4. Customer Relations
5. Revenue Streams
6. Key Resources
7. Key Activities
8. Key Partnerships
9. Cost Structure

If all these building blocks have been properly formulated, the business model becomes a powerful template to build your business from.