Entrepreneurship 101: Understanding Business Model Canvas - Key Resources

In the last post we looked at the Key Activities that your business does in order to create value for your customers. These activities are a key to your business and must be handled with utmost care and given due importance. To perform these activities and run your business smoothly, there are some things required and those are called as Key Resources. In this post we look at the Key Resources aspect of the Business Model Canvas.

Key Resources in Business Model

For any business to run, there are activities that it performs which requires a resources. The Key Resources field of the Business Model Canvas helps us understand exactly that. The Key Resources refer to the things that are critical to your business. Without these it would be impossible for your business to perform the activities and create value. For instance if you are running an e-commerce website, then your resources include the platform you use, the hardware assets, the people and so on.

Key Resources in Business Model Canvas

Example Business Model - Key Resources

Continuing with Uber's business model as we've been doing in this series, let's have a look at their key resources. We all know that Uber is a transport platform which is completely mobile app based. So one of the key resources for Uber is their tech platform that involves the platform and the apps. The next key resource is obviously their driver network without which they probably wouldn't exists. And third one is their brand. That's a little debatable but surely a key in getting more business.

Business Model of Uber. Image Courtesy: BMI Inc

That's about Key Resources in the Entrepreneurship 101: Understanding Business Model Canvas - Key Resources. The Key Resources helps identify all the vital resources the business needs to carry out their activities and deliver the value to their customers. What do you think would be the key resources for Google ? Share your thoughts in the comments below.