Business Model Canvas

Why

Develop a structured visualisation of how a new company can reach its customers and earn revenue in order to understand, discuss, create, and analyse a new business idea.

How

The Business Model Canvas (BMC) is a tool that covers many related aspects of a company startup; it is a quick way to draft and improve a business plan. The BMC elements describe the value proposition, key activities, resources, key partners, channels, customer target groups, customer relations, and the revenue model.

Ingredients

• A business idea.

• A printout of the canvas.

• Knowledgeable stakeholders.

• A creative eye for new ways to do business and a critical view for unrealistic plans.

Practice

The BMC is an exercise applied by many companies when starting their business, and can be repeated as business develops. It has served as inspiration to many other fields that now also work with their own specific ‘canvas’.