The Business Model canvas helps you understand the customers you serve, how your value proposition is distributed and how your company will be profitable. Use the canvas to understand your own business model or that of a competitor!
Visualize and test your business model by looking at its core components in a systematic process. This is our go-to-canvas when we are involved in developing a business model innovation for our customers. We highly recommend taking a moment to review your business model’s and assess your performance and potential blind spots.
Before You start with the Business Model Canvas
Before starting with the Business Model Canvas, you can do some preparations. Map out the business models of some chosen competitors to gain insight into what customers want and what they are willing to pay for. This way, you can uncover important information on how other businesses have made their own spaces in the market.
3 Advantages of using the Business Model Canvas
1. Ensure you have a comprehensive overview of your business and its growth drivers
2. The Business Model Canvas is simple to understand and focussed. This makes it to get started with, develop and iterate.
3. The business model canvas helps you with the execution steps requirement to take your idea to market.