The Lady Entrepreneurs’ Wing of Vidarbha Industries Association (VIA LEW), in collaboration with the Marathwada Chamber of Commerce, Industries, and Agriculture (MCCIA) and the Maharashtra State Small Industries Development Corporation (MSSIDC), successfully organized a workshop on “Business Model Canvas : Your Roadmap to Success,” focusing on its relevance for MSMEs. The workshop was conducted by renowned business strategist Shashikant Chaudhari, a serial entrepreneur and angel investor, who provided practical insights into how the BMC can drive business growth and innovation.
Chaudhari emphasized that the Business Model Canvas is more than just a planning tool; it’s a strategic framework that aligns all internal stakeholders on a unified vision. By establishing a common language across teams, it ensures everyone is on the same page regarding key business components. The BMC serves as a powerful visual aid for value creation, value delivery, and value capture, providing clarity on the “what,” “how,” and “why” of a business model.
The session highlighted how analyzing a competitor’s BMC can expose their strengths and weaknesses, enabling businesses to strategize more effectively. While a product may offer a temporary edge, a unique and well-structured business model provides a lasting competitive advantage. The BMC is also an excellent tool for visualizing new value propositions and aligning internal operations to achieve desired outcomes. By addressing the critical aspects of desirability, feasibility, and viability, businesses can innovate more effectively.
Chaudhari also covered advanced concepts, such as using the Value Proposition Canvas to tailor offerings based on customer pain points and gains, and how empathy mapping can identify key customer needs and drive the design of solutions. Additionally, he discussed how MSMEs can use the BMC to test and validate new business models quickly in a rapidly changing environment.
Participants were guided through the nine segments of the Business Model Canvas, with practical examples that allowed them to map out their business models.
At the outset, Rashmi Kulkarni, Chairperson – VIA LEW, delivered the opening remarks, stating, “The Business Model Canvas helps us see the bigger picture of our business at a glance,” setting the tone for the session. Sarika Damle from MCCIA shared insights on the work done by the chamber across 32 districts. The program was skilfully conducted by Dr Anita Rao, while Yogita Deshmukh, Secretary of LEW, proposed the vote of thanks.
The program also witnessed the presence of VIA LEW EC members, including Chitra Parate, Shachi Mallick, Reeta Lanjewar, Poonam Lala, and Tejal Rakshmwar, who actively supported the event.
Organized in collaboration with MCCIA and MSSIDC, the workshop was a resounding success, enriching participants with valuable insights into enhancing their business models.