If you’re anything like me a few years ago, you’re probably wondering what is a “Business Model Canvas”?
A Business Model Canvas (BMC) is in many ways very similar to a Business Plan. However, the Business Model Canvas is more a visual representation of a Business Plan. Using a BMC to outline the functions and inner workings of a company – new or old – basically gives you a comprehensive map to follow while running the business.
Let’s take a look at how a BMC is structured:
You can see the canvas is divided into various segments that are the most fundamentally important questions to ask and answer when planning to start a new business. It literally covers all the bases.
Mastering the ability to create this document and to doing it well will certainly put any new business on track with vision and clarity and ultimately increased chances of success.
Check out https://canvanizer.com/. It’s a free online tool that helps you quickly create and edit BMCs.