Principles of Entrepreneurship (ENT530): Business Model Canvas: Dream Bag Co. / Megan Sikajat … [et al.]

Currently, it is undeniable that business play a vital role especially on consolidating the nations strength by fueling our past economic recoveries. Therefore, there are countless business being proposed and carried out among our society to keep the growth of economy. Along with this outstanding insights and ideas that become much better as time goes by, business model canvas has been introduced widely and have become a part of strategies to interpret and value one idea come out to real business. Hence, to introduce more about this topic, business model canvas can be defined as a strategic management and a lean start up template for establish new documenting existing business models. It also known as visual chart filled with the nine blocks of elements describing firms or product value propositions, infrastructure, customers, and finances. Hence, every idea has their own value which we cannot turn a blind eye and we must see the potential of one’s business no matter how small it is to be proposed and to be improved so that more successful entrepreneur can be discovered regardless of their age. Therefore, the purpose of preparing the business model canvas is to help us analyze the business model of our own company and to ensure that we as young entrepreneur can keep focus on our building blocks to save time to succeed. These nine key blocks of elements help us to have a clear vision on what we wanted to promote and what we want to target in our business plan. Hence for this report, our company, Dream Bag Co., decided to create a product, a merge product between 3 products, which is a bag, a pillow, and a mini massager machine. Our product’s name is Pratique, which means easy and manageable and efficient in French. Pratique is one of a local brand that offers a bag that 3 functions in one bag. The bag provides comfort neck strain, ease back ache, and carry things that you need inside the bag. Our product offers two types of bag which is Tote bag and bag pack. It is a sturdy, waterproof and an eco-friendly bag