Business Model CanvasPosted by Luisa on March 12th, 2021 How to use the canvasThe business model canvas is a shared language for describing, visualizing, assessing and changing business models. It describes the rationale of how an organization creates, delivers and captures value. ste Step by step guideBefore you startYou 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. Checklist ⊗ Get the right team of 3-5 people together High levelStart by mapping out the business on a high level: only the most important, vital aspects of the business model. TIP! Try to make your criteria as clear as possible, so that you and others will still understand what they mean in three months time. split up more complex design criteria. Connect the building blocksLink 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? 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. Current stateDon’t mix ideas for a future state with what is going on right now, and don’t mix different departments! 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 ReviewTake 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? Next stepsTip! 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 Like it? Share it! |