The Business Model Canvas (BMC) gives you the structure of a business plan without the overhead. It’s a tool which helps you map, discuss and design new business models.
The Canvas has nine elements:
- Customer Segments: Who are the customers? Who is your most important audience?
- Value Propositions: What’s compelling about the proposition? Why do customers buy, use?
- Channels: How are these propositions promoted, sold and delivered (touchpoints)? How is value delivered?
- Customer Relationships: How do you interact with the customer through their ‘journey’? What relationships do you have with your customers.
- Revenue Streams: How does the business earn revenue from the value propositions? What pricing mechanisms are there?
- Key Activities: What does the business do to deliver its proposition?
- Key Resources: What assets does the business have? 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 and how are they linked to revenue?
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