Have you heard of the Business Model Canvas?
"It’s not the product – it’s the business model” – Steve Baker (Entrepreneur)
I have been using the Business Model Canvas to quickly capture my client's business models. It really helps you understand and clarify where you want to go with you business, who you serve and whether your business model will pass the numbers test and make you money.
A Business Model Canvas basically helps you to identify your whole business in 9 building blocks as listed below.
Once completed, (it shouldn't take more than 20 minutes to get a first draft out), it enables you to quickly communicate your business model to: Your team members, your honey, potential investors, at networking meetings and anyone else that may be interested in your business.
There is a Business Model Canvas Template and instructions that you can get in my F.A.B Club as part of my Savvy Cash Booster Kit here : https://businessbright.squarespace.com/savvyfinancialmanagement/
1. The ideal customers that will buy your products or services
2. Your customer's problems as they relate to your product/service
3. Existing alternatives i.e. your competition
4. How you solve your ideal customer's problems with your product or service
5. Unfair advantage - what you do better than your competitors?
6. Your Unique Service/Value Proposition, what value do you bring to your customers?
7. What channels you will use to market and sell your products/services
8. Your main revenue streams and your projections of revuenu
9. Your projections of fixed and variable costs and what is needed to fund your business to the point of profitability
In addition you can detail your team, other resources such as joint ventures for referrals and your main milestones.
So your business canvas becomes your snapshot business plan on just one page! It's a magnificent visual tool. Some people use post it notes to complete the building blocks so they can keep it flexible. Alternatively, you can do a separate canvas for each of your business ideas to test their viability.
There are different versions of the business canvas, the original is by Alexander Osterwalder.
Don't worry about finding some sections difficult to complete leave it blank for now and the empty space will becomes a reminder that there are some areas of your business model that you need to get clear on.
If you haven't used the canvas model before, I have a copy with instructions for you.
I've adapted one from Liveplan and I am happy to share it with you.
Yup, it's yours for asking! Just click here to email me: