The Business Model Canvas is a strategic management and entrepreneurial tool. It allows you to describe, design, challenge, invent, and pivot your business model. This method from the bestselling management book Business Model Generation is applied in leading organizations and start-ups worldwide.
Have everyone understand your project
What is Project Canvas?
Project Canvas is a visual tool that improves communication in project teams and provides a simplified project overview.
Where can Project Canvas be used?
Project Canvas is made by project facilitators and project management professionals, who seek to simplify the challenge of project communication – before, in and after project execution:
project kickstart: pitching and project initiation.
project overview: project briefing and status.
project management: task assignment and project progress.
Project Canvas gives users a common communication framework for all bodies involved in the project process. Thus, decreasing changes of misunderstandings – and hereby wasted money and time – among everyone involved in the project.
Build on top of well known methodologies
Project Canvas is built on the basis of studying the similarities in the popular project management methodologies: PRINCE2, PMI and Scrum. The following 12 elements was chosen after both qualitative and quantitative comparison and empirical prototyping with both small (1-4 people) and large (12-50 people) project organizations: purpose, scope, success criteria, outcome, team, stakeholders, users, resources, constraints, risks, milestones and actions. The visual representation is inspired by the well-known and widely used Business Model Canvas and Game Plan.
Get in touch for questions or feedback
Feel free to download the tool – and don’t pay a penny! We offer the tool free of charge, just click here and input your email. Should you have any comments, questions or interest in hiring any of us, just push the button below and get in touch!
The Business Model Canvas enables you to:
- Visualize and communicate a simple story of your existing business model.
- Use the canvas to design new business models, whether you are a start-up or an existing businessManage a portfolio of business models
- You can use the canvas to easily juggle between “Explore” and “Exploit” business models.
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Tools
The lean canvas template helps you:
- Brainstorm and articulate the core strategy of a business model
- Streamline cross-functional collaboration with stakeholders
- Create a straightforward, one-page business plan
- Leverage customer insights to gain a competitive advantage
To create a lean canvas model, you only need to answer the nine elements. They include:
1. Define the problem
What is the problem that your company intends to solve? What pain points do your target customers or personas face, and how do they relate?
Clearly express what the problems are, and how your solution can address them.
2. Propose a solution
The solution your product or service provides that solves the problem(s) you wrote down in the “Problem” step.
In other words: What does your product or service do, and why would someone be interested? Highlight the unique features or benefits that differentiate your solution from competitors.
3. Craft a unique value proposition
Your unique value proposition is what makes your brand different from similar brands that already exist. Develop a clear and compelling value proposition that communicates the unique value your business provides to customers. This helps you convince people to buy from your brand instead of a competitor’s.
4. Identify your unfair advantage
Identify any unique advantages or strengths that set your business apart from competitors. This could be proprietary technology, key partners or strategic relationships, industry expertise, a known history of strong customer relationships, or a strong brand reputation.
5. Identify your customer segments
The segments of people you’re targeting with your product or service. These are the people who would get the most value from your brand.
Are they early adopters of technology? What technology do they use? Go into detail about their characteristics, habits, attitudes and more to create actionable personas.
6. Define your key metrics
The metrics you can use to measure how successful your business is and whether your product is effective. These could include customer acquisition cost, customer lifetime value, conversion rates, or revenue growth milestones.
Note: Key metrics can be a mix of general metrics like “units sold” and more product-specific metrics.
For example, if your product is a solution for productivity or time management, one product-specific metric you could measure is “time saved on tasks.”
7. Design your channels
Determine the most effective channels of communication you will use to reach your target customers and deliver your solution. Consider both online and offline channels that align with your customer’s preferences.
Common channels include your website or social media profiles, with other examples being live events, an app, and email, or out-of-home advertising.
8. Determine the cost structure
This includes everything cost related you need to account for, like marketing and promotion, manufacturing or production, technology, and your people.
Will customers pay for your product or service? How much will you charge? Will there be different pricing models for different customer segments?
9. Identify revenue streams
Outline how your business will generate revenue. Some common examples are product sales, speaking engagements, and consulting services.
