The Business Model Canvas’s chief virtue is its transparency, and that transparency helps create focus. That said, to create a meaningful and worthwhile take on the Canvas, you want some depth. Here we’ll walk through 3 steps that will help you dig deep into what your business is about and how to frame that using the Canvas.
What is the Canvas
The Business Model Canvas is a tool for articulating and innovating business models. It has the nine blocks shown below. You can probably sit down right now and fill out a version of it for your business.
If you’re prefer something printable, here’s a PDF.
Meet Alex Cowan, entrepreneur (5x), intrapreneur (1x), author, and instructor at General Assembly. He’s also the author of ‘Starting a Tech Business’. When he’s not teaching at GA, he’s often found advising companies and posting instructional materials for innovators and instructions on alexandercowan.com.
I’m always pushing myself to be the best possible product person I can be, and these days I tend to earn a lot through my work as an instructor. My classes are on the interdisciplinary topics of product design and venture creation, so I get to work with business people wanting to understand the technical side and engineers wanting to learn the business side.
Often times, students from the business side are thinking of learning to code and students from the engineering side are thinking of going to get an MBA. While both might be advisable in certain situations, I’ve found that there are a few simple foundation skills that drive the interdisciplinary cooperation at the heart of so many successful projects:
Meet Alex Cowan, entrepreneur (5x), intrapreneur (1x), author, and instructor at General Assembly. He’s also the author of ‘Starting a Tech Business’. When he’s not teaching at GA, he’s often found advising companies and posting instructional materials for innovators and instructions on alexandercowan.com. This is the second post in Alex’s series on Storyboarding. Click here to read his introductory post.
Outstanding products are the accumulation of many thoughtful details. Particularly in more mature categories, consistently thoughtful execution is probably more important than grand inspiration.
Agile’s primary input, user stories, have always been a great way to get that consistency. Sadly, they’re not a silver bullet and their impact is often marginalized because of weak stories. Quality stories that really represent users should thread back to personas & problem scenarios, meaning that you have a vivid depiction of who this user is and what underlying need the story’s addressing. Without this, the user stories may end up as a specification for something thought up ‘inside the building’ as opposed to out in the market. Furthermore, the story will end up in out there in the real world without a clear trail back to why you thought it was a good idea and a ready criteria for whether or not it’s delivering the outcome you intended.