Summarize a new business model in its early stages.
Use this template to outline all the advantages, targets, challenges, risks, costs, and opportunities of your business. After completing each step, you'll have an exportable canvas representing all the key details.
A business model canvas (BMC) is a one-page model that provides a clear and concise overview of a company's value proposition, target customer segments, revenue streams, cost structure, key activities, resources, partnerships, and channels.
By filling out each section of the canvas, business owners and entrepreneurs can gain a deeper understanding of different business models, identify areas for improvement, and develop strategies to achieve their goals.
The business model canvas template helps with:
- Gathering observations across an organization and build a strategy
- Aligning teams around a common vision
- Identifying areas for improvement
- Making it easier to communicate your ideas to others
How to use the Business model canvas template
Use the following building blocks to build a cohesive business strategy:
1. Identify your customer segments
Who are the people or organizations that will be using your product or service? Try to be as specific as possible — build a customer persona to consider factors such as demographics, psychographics, and behaviors.
For an added level of detail, map out the customer journey to identify key touchpoints.
2. Define your value proposition
What is the unique value that your product or service offers to your customers? This should be a clear and concise statement that summarizes the benefits of your product or service, and how they address customer needs.
3. Identify your channels
Which methods of communication do you plan to use to spread the word about your business to your customers and your key partners? Will you be using online marketing, social media, direct mail, or some other method? List all the channels you plan to use.
4. Describe your customer relationships
How will you interact with your customer base? Will you be providing customer support, offering loyalty programs, or engaging in other ways? Be specific about the types of relationships you will be building with your customers.
5. Define your revenue streams
How will you generate revenue from your product or service? Will you be charging for subscriptions, selling products, or using advertising? List all the revenue streams and pricing models you plan to use.
6. Identify your key resources
What are the resources you need to deliver your value proposition? This could include things like technology, equipment, human resources, intellectual property, or physical assets.
7. Describe your key activities
What are the core activities required to operate your business? This could include things like product development, manufacturing, distribution channels, marketing, sales, or customer service.
8. Identify your partnerships
What external parties will you need to collaborate with to achieve your goals? This could include suppliers, distributors, or other businesses that complement your product or service. Understanding key partnerships can help give you a leg-up against potential competitors.
9. Define your cost structure
What are the costs associated with operating your business? This could include things like salaries, rent, utilities, marketing expenses, or product development costs.
10. Review the canvas
Once you have filled out all the sections, review your canvas and make any necessary adjustments. You may want to consider whether there are any areas that need further refinement, or if there are any inconsistencies that need to be resolved.
11. Next steps
Use the canvas to guide your decision-making and strategy development. You may want to share it with your team, investors, or other stakeholders to get their feedback and input. Update it regularly as your business evolves and grows to inform your roadmap.
Tips for creating a business model canvas
Invite more collaborators
Invite more team members into the workflow to help with building out each section of the canvas. Team members can provide valuable feedback and unique insights that will strengthen the quality of your business model canvas
Try use cases other than business plans
A business model canvas can be used for more than new business models or an existing business strategy. For example, try gathering insights across an organization to build a more inclusive environment.
Keep it simple
The canvas is meant to provide a high-level overview of your idea on a single page. Avoid getting bogged down in details and keep your descriptions concise and to the point.
Get started with this template right now.
Use this template to outline all the advantages, targets, challenges, risks, costs, and opportunities of your business. After completing each step, you'll have an exportable canvas representing all the key details.
A business model canvas (BMC) is a one-page model that provides a clear and concise overview of a company's value proposition, target customer segments, revenue streams, cost structure, key activities, resources, partnerships, and channels.
By filling out each section of the canvas, business owners and entrepreneurs can gain a deeper understanding of different business models, identify areas for improvement, and develop strategies to achieve their goals.
The business model canvas template helps with:
- Gathering observations across an organization and build a strategy
- Aligning teams around a common vision
- Identifying areas for improvement
- Making it easier to communicate your ideas to others
How to use the Business model canvas template
Use the following building blocks to build a cohesive business strategy:
1. Identify your customer segments
Who are the people or organizations that will be using your product or service? Try to be as specific as possible — build a customer persona to consider factors such as demographics, psychographics, and behaviors.
For an added level of detail, map out the customer journey to identify key touchpoints.
2. Define your value proposition
What is the unique value that your product or service offers to your customers? This should be a clear and concise statement that summarizes the benefits of your product or service, and how they address customer needs.
3. Identify your channels
Which methods of communication do you plan to use to spread the word about your business to your customers and your key partners? Will you be using online marketing, social media, direct mail, or some other method? List all the channels you plan to use.
4. Describe your customer relationships
How will you interact with your customer base? Will you be providing customer support, offering loyalty programs, or engaging in other ways? Be specific about the types of relationships you will be building with your customers.
5. Define your revenue streams
How will you generate revenue from your product or service? Will you be charging for subscriptions, selling products, or using advertising? List all the revenue streams and pricing models you plan to use.
6. Identify your key resources
What are the resources you need to deliver your value proposition? This could include things like technology, equipment, human resources, intellectual property, or physical assets.
7. Describe your key activities
What are the core activities required to operate your business? This could include things like product development, manufacturing, distribution channels, marketing, sales, or customer service.
8. Identify your partnerships
What external parties will you need to collaborate with to achieve your goals? This could include suppliers, distributors, or other businesses that complement your product or service. Understanding key partnerships can help give you a leg-up against potential competitors.
9. Define your cost structure
What are the costs associated with operating your business? This could include things like salaries, rent, utilities, marketing expenses, or product development costs.
10. Review the canvas
Once you have filled out all the sections, review your canvas and make any necessary adjustments. You may want to consider whether there are any areas that need further refinement, or if there are any inconsistencies that need to be resolved.
11. Next steps
Use the canvas to guide your decision-making and strategy development. You may want to share it with your team, investors, or other stakeholders to get their feedback and input. Update it regularly as your business evolves and grows to inform your roadmap.
Tips for creating a business model canvas
Invite more collaborators
Invite more team members into the workflow to help with building out each section of the canvas. Team members can provide valuable feedback and unique insights that will strengthen the quality of your business model canvas
Try use cases other than business plans
A business model canvas can be used for more than new business models or an existing business strategy. For example, try gathering insights across an organization to build a more inclusive environment.
Keep it simple
The canvas is meant to provide a high-level overview of your idea on a single page. Avoid getting bogged down in details and keep your descriptions concise and to the point.
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When do you need a business model canvas?
How do you use a business model canvas?
What are some common mistakes with using a business model canvas?
Strategyzer aims to put practical tools into the hands of every business strategy practitioner. They’ve assembled an amazing team of creative, technical, and business professionals from around the world to build products and create experiences that benefit individuals, organizations, and society.
Mural is the only platform that offers both a shared workspace and training on the LUMA System™, a practical way to collaborate that anyone can learn and apply.
