I attended Sri Harsha's online workshop on Business Model Innovation, about 2 weeks ago. It was an excellent workshop, that will help any entrepreneur any time.
The program helped me recall the fact that the modelling activity has two parts:
Part one: Includes all the activities associated with making something: designing it, purchasing raw materials, manufacturing, and so on.
Part two: Includes all the activities associated with selling something: finding and reaching customers, transacting a sale, distributing the product, or delivering the service.
The workshop also introduce us to a "business model canvas” that essentially is an organized way to lay out your assumptions about not only the key resources and key activities of your value chain, but also your value proposition, customer relationships, channels, customer segments, cost structures, and revenue streams — to see if you’ve missed anything important and to compare your model to others.
I recommend all our entrepreneur friends must take time out and attend the workshop.