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Business Model Canvas

BUSINESS Model Canvas

business_model_canvas

Every business from start-up to mature enterprise needs a business plan. To survive and thrive in the digital economy, a business plan must constantly evolve to set the direction of product or service value,  target markets and revenue streams. There are many tools available to help business leaders craft a good business plan, many of which are simply too overwhelming. Enter the Business Model Canvas.

The Business Model Canvas is a light-weight tool designed for star-up organizations. However, it can be used to easily refine or redefine existing business models, or even pivot a business into a new direction. The Business Model Canvas is a one-page template divided into category “boxes” that provide a coherent view of business drivers:

  • Customer Segments – Who are the customers? What do they think? See? Feel? Do?
  • Value Propositions – What’s compelling about your products or services? Why would customers buy or use the?
  • Channels – How will your products or services be promoted, sold and delivered? Why? Is it working?
  • Customer Relationships  – How do you interact with the customer through their ‘customer journey’?
  • Revenue Streams – How does the business generate income?
  • Key Activities – What uniquely strategic operations will the business implement to deliver its products and services?
  • Key Resources – What unique strategic assets or partners must the business have to compete?
  • Cost Structure – What are the major operational costs and how are they linked to revenue?

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