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Business Model Canvas Explained

The Business Model Canvas (BMC) is a visual tool that outlines key components necessary for starting a business, including customer segments, value propositions, and revenue streams. It serves as a guiding principle for product roadmaps, ensuring that essential strategic elements are consistently incorporated for success. The Lean Canvas is a simplified version that can be used for quick planning and idea development.

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16 views4 pages

Business Model Canvas Explained

The Business Model Canvas (BMC) is a visual tool that outlines key components necessary for starting a business, including customer segments, value propositions, and revenue streams. It serves as a guiding principle for product roadmaps, ensuring that essential strategic elements are consistently incorporated for success. The Lean Canvas is a simplified version that can be used for quick planning and idea development.

Uploaded by

roel.masangcay
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Business Model Canvas Explained

The Business Model Canvas is a


business tool used to visualise all the
building blocks when you want to start a
business, including customers, route to
market, value proposition and finance.
You could also try the Lean Canvas, a
20min, 1-page business plan template
that helps you pull apart your idea. It is
adapted from Alex Osterwalder’s
Business Model Canvas.
The blocks on the BMC are:
Customer Segments: Who are the
customers? What do they think? See?
Feel? Do?
Value Propositions: What’s compelling
about the proposition? Why do customers
buy, use?
Channels: How are these propositions
promoted, sold and delivered? Why? Is it
working?
Customer Relationships: How do you
interact with the customer through their
‘journey’?
Revenue Streams: How does the
business earn revenue from the value
propositions?
Key Activities: What uniquely strategic
things does the business do to deliver its
proposition?
Key Resources: What unique strategic
assets must the business have to
compete?
Key Partnerships: What can the
company not do so it can focus on its Key
Activities?
Cost Structure: What are the business’
major cost drivers? How are they linked to
revenue?
Each of these blocks needs to be
accurately filled in, and revisited regularly
to ensure the business model is still
accurate – its a good thing to do before
you register a business.
So, what's the rationale behind creating a
business model canvas (or the more
concise lean canvas) to steer your
product roadmap?
There are numerous advantages, but in
essence, you can view a business model
canvas as a guiding principle for your
product roadmap. It serves as a useful
point of reference, ensuring that your
roadmap consistently incorporates all the
essential strategic components vital for
your product's triumph.
Looking for more resources and support?
Take a look at the University and
community support available, funding
opportunities and free online resources.

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