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Business model canvas.

The holy grail of design thinking tools..

The business model canvas is a great tool to help you understand a business model in a straightforward, structured way. Using this canvas will lead to insights about the customers you serve, what value propositions are offered through what channels, and how your company makes money. You can also use the business model canvas to understand your own business model or that of a competitor! The Business Model Canvas was created by Alexander Osterwalder, of Strategyzer.

11 building blocks.

1. Customer segments . List  your most important (future)  segments. Look for the segments that provide the most revenue.

2. Value proposition . W hat are your products and services? What is the job you get done for your customer?

3. Revenue streams . List your top three revenue streams. If you do things for free, add them here too.

4 .  Societal and environmental benefits.

What are you giving back to your community and planet? 

5 . Channels . How do you communicate with your customer? How do you deliver the value proposition?

6 . Customer relationships . How does this show up and how do you maintain the relationship?

7 . Key activities . What do you do every day to run your business model?

8 . Key resources . The people, knowledge, means, and money you need to run your business.

9 . Key partners . List the partners that you can’t do business without (not suppliers).

10 . Cost structure . List your top costs by looking at activities and resources.

11. Societal and environmental costs.

What’s the negative impact of your business model?  

Your step-by-step guide.

Before you start..

You can learn a lot from your competition. Choose some competitors and map their business models. Armed with this information you’ll have deep insight into what customers want and what they are willing to pay for. You’ll have a clearer picture of just how customers’ needs are met across the entire industry, not just in your company. And, you’ll uncover vital information about how other businesses, maybe even very successful businesses, have created their own spaces in the market.

Get the right team of 3-5 people together.

Grab a large chunk of wall space.

Print or draw the canvas on a big sheet of paper.

Have plenty of sticky notes and markers ready.

Allow yourself 45-60 minutes of undisturbed time.

1. High level.

Start by mapping out the business on a high level: only the most important, vital aspects of the business model.

2. Connect the building blocks.

Link up the building blocks: every value proposition needs a customer segment and a revenue stream! When everything is on the board, take a step back. Have a short break. Did you miss anything? Forget something?

Pro tip: if you have multiple customer segments it is best to pick a colour for each segment in the post-it notes you use. That way you easily see if for each segment there is a value proposition and a revenue stream.

3. Current state.

Don’t mix ideas for a future state with what is going on right now, and don’t mix different departments!

Pro tip: if you work for a large organization you might find varying value propositions and business models. In that case ask the different departments to map out their own business models. You can compare them afterwards.

Take a step back check if every customer segment is linked to a value proposition and a revenue stream. Make sure everything on the left side of the canvas is needed to support the right side of the canvas. Everything else can go.

Rank your business model’s performance (0: bad, 10: excellent) for each of the following questions:

How much does switching costs prevent your customers from churning?

How scalable is your business model?

Does your business model produce recurring revenues?

Do you earn before you spend?

H ow much of the work can be done by others?

Does your business model provide built-in protection from competition?

On what cost structure is your business model based?

5. Next steps.

Pro tip: have an artist visualize your business model. It helps to create impact when sharing the model and it makes it easier for others to become connected. Checklist :

Take a snapshot picture of your business model canvas for easy to share future reference .

Ask team-members discuss the business model with others .

Trigger team-members to actively look for 1-2 blind spots .

Filter out the design criteria .

Test your assumptions .

Need some extra brainpower for your business model canvas?

Meet stefan. he is your expert..

Business Model Canvas Template

Create and download your canvas online

Consider the business or project you want to build. Learn about Business Model Canvas to sketch your ideas.

Fill the boxes below by answering questions about your business. See the full picture.

Enter your email and receive your canvas. Print or share it with your team.

What is Business Model Canvas?

The Business Model Canvas is a strategic management and planning tool that provides a visual framework for describing, analyzing, and designing a business’s key building blocks and how they interact to create value.

What is the purpose of Business Model Canvas?

The purpose of a Business Model Canvas is to describe, analyze, and design a business model and outline high-level strategic decisions needed to get a business or product onto the market. Designed by the economic theorist Alexander Osterwalder and the computer scientist Yves Pigneur in 2005, the template comes in the form of an intuitive one-page business plan summary consisting of the nine key building blocks, from customer segments to cost structure.

When to use Business Model Canvas?

The Business Model Canvas is an adaptable tool with many applications. It’s commonly employed in the following scenarios:

• Initiating a business: The Business Model Canvas helps flesh out your business concept and assess whether you should proceed with it or consider modifying your approach.
• Enhancing an established business: If you’re dissatisfied with your business’s performance, the Business Model Canvas can assist in pinpointing areas that require improvement.
• Introducing a new product or service: The Business Model Canvas provides insights into how your new product or service aligns with your existing business and the necessary adjustments to ensure its success within the organization.

How can Business Model Canvas benefit established businesses?

• Structural Guidance: It provides a visual framework for structuring your business model, ensuring that the canvas evolves in line with your strategy.
• Value Proposition Focus: The Canvas emphasizes the core value proposition, keeping your business aligned with its fundamental purpose and acting as a guiding principle.
• Efficient Planning: Whether you have a defined model or are exploring alternatives, the BMC template enables rapid and efficient completion, promoting swift ideation and iterative development.
• Holistic Understanding: It offers a comprehensive view of the interconnected elements within your business, enhancing your perception of it as a cohesive system.
• Effective Communication: BMC can be easily shared with teams, stakeholders, advisors, and partners, facilitating clear feedback and understanding.

What should be included in Business Model Canvas (BMC)?

The Business Model Canvas should include 9 sections, each outlining the most strategically important elements of a business. The sections are as follows:

Customer Segments: What customer groups will be interested in your product or service?

Key Partnerships: Who are your partners and suppliers that make your business model work?

Key Activities: What activities do you require to make the business model successful?

Revenue Streams: How are you going to drive revenue?

Value Propositions: Why will customers buy and use your product?

Channels: How are you planning to deliver, promote, and sell your product or service?

Key Resources: What resources do you need to deliver on the value propositions ?

Customer Relationships: What customer communication channels are you planning to have?

Cost Structure: What will drive business’ expenses? How are they related to revenue?

How to create Business Model Canvas online?

For your convenience, you can quickly map out your business plan by filling in all 9 boxes of the BMC template online. There are no strict rules on which component of the BMC to spell out first. You may start by describing key partners, activities, resources, and value propositions and then move on to identifying your customer base and communication channels. The expenses and revenue boxes can be filled at the final stage.

Tips for Creating Effective Business Model Canvas

Here are four key tips to help you make the most of the Business Model Canvas:

Keep it simple. Your canvas should be clear, concise, and easy to understand. Avoid overwhelming it with unnecessary details. Focus on the core components that define your business, such as customer segments, value propositions, channels, and revenue streams. By keeping it simple, you’ll be better equipped to communicate your strategy to others and maintain a clear vision for your business.

Continuously update your canvas. Make it a habit to revisit and update your canvas regularly. Market conditions change, customer needs evolve, and competitors adapt. By regularly updating your canvas, you can ensure that your business remains aligned with current realities and emerging opportunities.

Collaborate with your team. Creating a Business Model Canvas is not a solo endeavor. Collaboration with your team is crucial. Gather input from various departments and individuals, as their perspectives can provide valuable insights. By involving your team, you can tap into their expertise and ensure everyone is on the same page regarding the company’s strategy and goals.

Test and validate your model. A business model is only as good as its real-world performance. It’s essential to test and validate hypotheses it contains. Experiment with different strategies, measure their outcomes and adjust your canvas accordingly. This iterative process of testing and refining will help you discover what works and what doesn’t, allowing your business to adapt and thrive.

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FREE Business Model Canvas Template

Download our free, easy-to-use BMC template for your own business idea today!

The Business Model Canvas (BMC) is a simple yet powerful tool to capture and visualise the foundational elements of a business model on a single page. Please enjoy our free template!

The business model canvas is a diagram that captures the most important features of a business model in predefined categories. It is arranged on a single page as a collection of nine boxes, with each box dedicated to one of the predefined categories. The diagram shows how the elements all work together to generate value for customer segments, and how that value is captured in the business. In addition, it considers the major resources, competencies and partnerships that the business will need, how the business will build and maintain customer relationships, and the channels through which the customers will be reached.

The nine elements actually fall into five different groups:

• Value Propositions
• Cost Structure

If you would like to know more about the Business Model Canvas, please check out this introductory article where we explore the elements in more detail, along with practical illustrations. For example, we show hoe the Operations group contains three main elements - Key Activities, Key Resources, and Key Partnerships. An example of a Key Partnerships would be working with a partner like us to supply critical expertise such as our Fractional HR service.

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