Business Model Canvas – An Introduction

Business Model Canvas is an interactive strategic planning and lean startup template, which are specifically designed for documenting or creating new business models. It is basically a digital diagram with several elements defining the value proposition of a product, business, or organization. It can also be used to document any existing business model.

The Business Canvas helps users visualize how their current business model could be improved. In fact, most users are unaware of their current business structure and how it could be transformed. Even those who understand that they should modify their business structure often find that the results of such modification are not as anticipated. For example, when a person starts to change his or her company’s accounting system, he or she expects to see immediate and dramatic changes in the profits or financial situation of the company.

The process of building a new business model from scratch is quite challenging. For example, a traditional business owner may find it difficult to understand the importance of the market segment he or she has to cater to. A user of the Business Canvas template will find that it provides all the information necessary to build a complete business plan.

Customer Relationship Management is one of the most effective ways to track a customer base. However, CRM can become very costly if implemented incorrectly. The Business Canvas template helps to automate the entire process of maintaining a CRM system. For instance, it allows the user to track individual customers through various customer segments like leads, prospects, and existing customers. Furthermore, you can set up a list of customer contact details which can be shared with your sales team to encourage more customers to purchase from you.

Lean Startup methodology is also being used in a lot of businesses. The Business Canvas allows the user to visualize the whole process of creating a lean startup strategy. The template also gives you the ability to create a customer database which enables you to track sales. It also allows the user to define a marketing plan and track expenses related to marketing activities. You can also share the data with your colleagues who may be able to implement the strategies in your business model.

Business Model Canvas can be used to help organizations create an effective marketing plan. It has many other benefits too including increasing the ROI, reducing costs, and streamlining the process of product development and implementation.