{"id":9790,"date":"2017-12-07T11:58:34","date_gmt":"2017-12-07T11:58:34","guid":{"rendered":"https:\/\/www.targetintegration.com\/?p=9790"},"modified":"2017-12-07T11:58:34","modified_gmt":"2017-12-07T11:58:34","slug":"using-business-model-canvas-better-understand-business","status":"publish","type":"post","link":"https:\/\/www.targetintegration.com\/en_in\/using-business-model-canvas-better-understand-business\/","title":{"rendered":"Using a business model canvas to better understand your business"},"content":{"rendered":"

To put it simply, no matter how much you think you know your business and what drives this brilliant idea forward, you don’t really know it until you step inside it. One tried and tested way of doing this is using a business model canvas. A business model canvas is a visual tool that allows you to step into your business and see it from every important angle. It helps you communicate your business plan clearly, while potentially revealing aspects of your business’ functions that may have flown under the radar. The introduction of this tool revolutionised the business sector, and at Target Integration our team regularly uses this template with new clients. The business model canvas is insight \u2013 and insight is key.<\/p>\n

Using the business model canvas<\/b><\/h2>\n

This tool was developed by Swiss business theorist Alexander Osterwalder<\/a>, and since 2009 it has been widely adopted as the standard go-to method for developing and communicating effective business models. It’s a template that is freely available<\/a> under the creative commons license for anyone to use, and it can be adapted to suit a variety of different business functions.<\/p>\n

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The template is available under creative commons license from Strategyzer.<\/figcaption><\/figure>\n

As you can see, the template is divided into various compartments. Each compartment represents a specific function or aspect of the business.<\/p>\n

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  • Customer segments<\/span> \u2013 information about your customers, such as who they are and what do they think about?<\/li>\n
  • Customer relationships<\/span> \u2013 what contact do you have with your customers, and how do you build this relationship?<\/li>\n
  • Channels<\/span> \u2013 how are you selling your value propositions? Through what media? How is it working?<\/li>\n
  • Value propositions<\/span> \u2013 the key selling point about your business. Why should customers be interested?<\/li>\n
  • Key activities<\/span> \u2013 what specific things does your company do to deliver these value propositions, and why?<\/li>\n
  • Key resources<\/span> \u2013 what does the business need to function and compete?<\/li>\n
  • Key partners<\/span> \u2013 this relates to your key activities. Who can you rely on and share responsibility with in order to focus more on these activities?<\/li>\n
  • Cost structure<\/span> \u2013 what costs and expenditures are required for your business to function? These are both fixed, and variable.<\/li>\n
  • Revenue streams<\/span> \u2013 how do you generate income for the business? Which methods do you use?<\/li>\n<\/ul>\n

    A great way to use the business model canvas is to print it out as a large sheet, and give everyone on your team \u2013 or everyone that you would like to be included in this process \u2013 some postets and markers. Together, you can add ideas to this template. It will soon become clear what the current understanding of the business model is, and also the things that need to be thought about more deeply. One important thing to remember is that this is a tool can be used continuously throughout your business’ lifespan. You can use it to check up on the model and see if it is still making sense and reflecting the business’ actions.<\/p>\n

    The good people at Strategyzer have also prepared a video about using this handy tool.<\/p>\n