Business Model Canvas
A strategic tool that outlines a company's key components, helping to visualize and assess its business model.
What is it?
The Business Model Canvas is a visual framework comprising nine elements—Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships, and Cost Structure—that together provide a holistic view of a business's operations and strategy.
When to use it?
Use the Business Model Canvas when developing a new business idea, pivoting an existing model, or aligning team understanding of the business's structure and strategy.
Why use it?
It offers a clear, concise way to map out and communicate a business model, facilitating strategic discussions, identifying potential gaps or weaknesses, and fostering innovation.
How to use it?
Fill in each of the nine blocks with relevant information about your business, starting with Customer Segments and Value Propositions. Use this overview to analyze and refine your business model, ensuring all components align to deliver value effectively.
How not to use it?
Avoid treating the canvas as a one-time exercise; instead, revisit and update it as your business evolves. Don't overlook external factors like market trends or customer feedback that may impact your business model.
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