Your Business NEEDS a Business Plan…
… in the form of a Business Model Canvas
With the inception of every business comes the
process of developing a Business Plan.
In addition to being necessary for securing funding, a Business Plan is, at its heart, a plan for understanding how your business will be structured and how that structure will function.
It is an undeniably critical document.
But we’re not here to talk about that. We’re going to move forward with the assumption that you already have a complete Business Plan in place, (if you don’t, let us know) and we’re going to dive into the reasons why your business should readdress the overall plan every year, but on a MUCH smaller scale.
That smaller scale is called a Business Model Canvas.
It’s a one-page overview that lays out
who you are
what you do
how you do it
& who you do it for
The structure of a Business Model Canvas is simple:
Your Value Proposition is in the center and from there you address
Key Partners, Activities, and Resources
Customer Relationship, Customer Segment, and Channels
as well as Cost Structure and Revenue Stream
A Business Model Canvas is basically every significant component of your business, all in one place. It requires you to review all aspects of your business at once, which can lead to realizations about connections that you may have otherwise missed.
There are some major reasons
for making the development of a
Business Model Canvas
part of your yearly routine.
This simple, but powerful document can:
help you develop your Value Proposition, so you have a clear understanding of what you offer your customers and what you bring to the market that no one else does
ensure your goal is fully developed in all critical facets
eliminate gray areas by requiring that you are committed to your fully developed goal and you are actively moving toward achieving that goal
permit you to hear fresh perspectives and different approaches when developed with a team, particularly one that represents a microcosm of your staff
provide you with a better understand your customer – as technology changes, access to different segments of the population changes, and your ideal customer may change as a result
provide you with a better understand your competition – again, as technology changes, access changes, which means your competition may change (even if only in their attempts to adapt)
assist you in focusing your efforts in and across all departments
prepare your business to deal with changing conditions by being a flexible and dynamic document, capable of growing and developing with your business goals
For a clear, easy-to-understand breakdown of your business that can help you define and stay on the path to achieving a variety of goals, take the time to develop a Business Model Canvas. Involve your team to ensure you’re getting the most complete picture, as well as access to the most informed perspectives.
Join us this month at our BUSINESS PLAN WORKSHOP to receive hands-on guidance creating a Business Model Canvas.
Whether your business needs to create a
Business Model Canvas for yearly review
your business needs to develop or revamp
a traditional Business Plan
(to request additional funding, to prepare for succession or sale, etc.)
WE CAN HELP!