Business Model Canvas & Its History | A Quick Guide

Every business will have a story. Is anyone looking to invest in a business? Then, you must know this story.

Yes! We are going to have a look at the Business Model Canvas which is the popular format for presenting any company’s story.

What is a Business Model Canvas?

Your company or business need not be a marketing trick or innovative or new. It will be completely taken care of by this Business Model Canvas.

It is a strategic framework for sharing your business model or story with your potential investors.

With Canvas you can visualize and test any business model. You can even detect the weakness.

Who developed BMC?

The Business Model Canvas was 1st developed in the mid-2000s by Alexander Osterwalder. He is a Swiss Economic Theorist.

It was further done by Yves Pigneur in 2005 who is a computer scientist.

What are the BMC advantages?

There are various benefits of utilizing the framework which are

Simplicity

This is a straightforward and single sheet. It has no filler. Your canvas will highlight the fundamentals of your business for which you must have all answers.

Though the compiling might seem to be overwhelming, the BMC makes sure to remain as a simple process.

Customer Focused

Your Canvas will portray how you will think about and how you will interact with your clients. It can expose your weaknesses (if any) as well.

For any Company

Be it a single individual’s startup or part of some multinational company; the BMC will work for all types.

Things to be considered while creating BMC

Before exploring your BMC, it is mandatory to consider your audience while creating the canvas.

Here we give few tips to strengthen your BMC. While creating your canvas, assume that your audience is

· Smarter than you

· Seeing through your mask

· Hoping you are “The One”

A Sneak Peek of 9 criteria of BMC

The 9 criteria will be the subset of 4 major BMC categories which are compromised with

Infrastructure

o Key Activities

o Key Resources

o Partner Network

Offering

o Value Proposition

Customers

o Customer Segments

o Channels

o Customer Relationships

Finances

o Cost Structure

o Revenue Streams

Finally

From core to edge, we hope you might have an overview of what BMC is.