At its core, a Business Model Canvas is a one-page business plan.
It lays out what you do and how you will go about doing it, and it captures key questions around revenue streams, key partnerships, and resources.
It’s okay if there are some areas you don’t have answers to. After all, you may still be sorting through your business plan. The Business Model Canvas tool helps keep group discussions more focused and creates opportunities to describe, design, challenge, and shift your business model.
Three Steps to Creating Your Business Model Canvas
- Start with your Unique Value Proposition in the center. Then continue building out with the boxes you do have answers for. Everything should tie back to your value proposition — this helps keep the focus on your main goal. Check out the Business Model Canvas worksheet for an example.
- To innovate your Business Model, take another look at what you’ve written in each box and think about how you might change that. For example, how could you change your revenue model to a subscription model? What other customer segments are untapped?
- Add notes with keywords to each building block of the canvas. If you use sticky notes, you can move ideas around as you fill out each building block in the canvas.
Business Model Canvas
It’s your turn! Create your own Business Model Canvas. Use this worksheet to guide you.