To help you design your business model, we can use a tool called a Business Model Canvas. A canvas helps us to consider all the necessary building blocks we need to successfully create, capture, and deliver the promised value. As a visual aid, to help for us to conceptualize how the business could operate and to play around with the different components; we will use a particular canvas called the Triple layered Business Model Canvas. This canvas will help us to consider the economic, environmental, and social components of our business idea. You may find this a useful tool, but don't feel obliged to complete all the building blocks of the three layers if it does not help you to understand how your business model may work. Let's have a look at each of these three layers in detail. Our first layer is the economic layer referring to the return of financial capital. This is the traditional business model canvas well used in practice across the globe. The usual starting point is with the customer segments on the right-hand side connected to the value propositions in center, detailed who would be your users? Who would be the paying customers? Are these perhaps different? Then what is the value proposition you are offering them? Which needs are you satisfying? How are you helping to solve their problems? Connecting these two elements are our customer relationships and channels. Ask yourselves how will we get customers and how will the customers find and buy our offerings? On the left side, the activities of how your business model will create the value, are assessed. What are the key activities your business is performing? For example, do you focus on the production of a certain product or rather on marketing and distribution? What kind of resources are necessary to perform these activities and do you need certain partners such as local farmers to make the business model successful? Finally, at the bottom of the canvas, you can describe the economic value capture, try to identify all the necessary costs that occur for your operations such as employees, buildings, distribution costs. On the other hand, consider how will your business model make money, what is the revenue model? The second layer of our canvas focuses on the ecological aspects of our business model, the return of natural capital. At the center of the canvas is the functional value. This is an idea for what are the offering, in terms of physical quantities and is best applied to product offerings. For instance, we are planning to sell 50 liters of ecological [inaudible] milk per day. If your idea cannot be described in these terms, then feel free to leave this blank. The left side of the canvas evaluates the environmental impacts or benefits that the material sourcing, production as well as supplies and outsourcing generate. Think about the environmental impacts and the key materials you use such as buildings and vehicles. Think about the water and energy for processes of your production and that of your suppliers. Other associated biodiversity loss or loss of soil quality. On the right side, the distribution, use phase, and end-of-life elements describe the environmental impacts or benefit of your offering once it has left your control, until it is not used anymore or discarded. If you are considering a product, you may ask, is it designed for reuse? What is the impact of moving the product and how we are minimizing the negative impacts of the use phase? At the bottom of the canvas is the value capture for the environment and our landscapes. How does our business model negatively affect the environment? How does it positively increase benefits, or reduce existing negative impacts? This component is the most important on the canvas and can be used without the other building blocks in the event of shortness of time. Our third canvas considers how we offer, create, and deliver value for society, the return of social capital. At its heart, we ask how do we create value for society? We can then consider two important stakeholders. On the far left, with the local communities affected by the landscape degradation. How will we develop relationships with the local community? Then on the right side, with the end-user. How does our offering improve their quality of life? Next, we can consider societal culture and scale of outreach. Two important questions for impactful business models. We can ask, how are we strengthening positive societal culture and what will be the scale of our societal impact? Is it restricted to a small geographical area? If so, how can you increase your scale of outreach through viable and widespread relationships? We then turn to the two components on the left-hand side, governance and employees. Governance asks how your business will operate in terms of transparency and organizational structure. Employees asks what is the role of employees in the business. These elements may be difficult for you to consider at this stage, but in time they will need to be carefully considered. Finally, the bottom part again summarizes the overall social impacts and benefits. Hopefully, in your business model, the benefits will significantly outweigh the negative impacts. Next to the economic, environmental, and social layers of our frameworks also include a fourth layer. You have already heard about the four return [inaudible] in week one. Now, we see the return of financial capital response to the economic layer of the business model canvas. The return of natural capital to the environmental layer, and the return of social capital to the social layer. In addition, common land added the return of inspiration. Returning inspiration is particularly important to business models for landscape restoration as the years of decline and degradation can really leave people despondent and believing there is no future on the land. You will hear more about this framework again in week seven. Remember, the canvas is a tool to help you. So, please do not get bogged down with every component. Use it to help you put detail on your business idea and make it more tangible for how it could become a reality.