8 – Key Resources
A look at the business model from the product manager's point of view
CANVAS 13 - Great guide on the business model, from the product manager's point of view
1 – Customer Problem
2 – Customer Segments
3 – Value Propositions
Value Proposition Formulation Map
4 – Customer Relationships
5 – Channels
6 – Revenue Streams
7 – Key Activities
You are here ➔ 8 – Key Resources
9 – Key Partners
10 – Cost Structure
11 – Eco-Social Costs
12 – Eco-Social Benefits
13 – KPI (Key Performance Indicators)
What key resources are needed to implement our value propositions, distribution channels, customer relationships, and revenue generation?
Key resources are the assets we need to deliver our value propositions, maintain customer relationships, ensure the functioning of distribution channels, and generate revenue. These can be physical, intellectual, human, and financial resources. Key resources do not include all the resources you need. For example, although a laptop is necessary, it is not considered a key resource because you likely already have one. If you need licenses from rights holders, like Spotify or Netflix, then content is a key resource for you. Without it, you cannot offer your value proposition, your distribution channel will be hindered, and you will not be able to earn subscription revenue as people will simply cancel it. That is why content is a key resource for Spotify and Netflix, which is provided by their key partners.
Types of resources:
Physical resources – include all assets in the form of land plots, warehouses, production equipment, or vehicles.
Financial resources – this is capital or available money, which is one of the most valuable resources, as it allows you to make investments and ensure the functioning of your enterprise's processes and operations.
Intellectual resources – represent very important assets for any company and may include patents or licenses.
Human resources – these are undoubtedly the most important resources because, ultimately, companies are people who work in them and contribute to achieving results.
Intellectual resources – Intellectual assets, or resources, include everything related to intellectual property and knowledge that provides a competitive advantage to your offerings. This can include patents, copyrights, trademarks, unique research, technological processes, proprietary data, and much more that contribute to the development and growth of your business.