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What is the Business Model Canvas (BMC)?

Business Model Canvas is a strategic management and lean startup template for developing new or documenting existing business models.  It is a visual chart with elements describing a firm's or product's value proposition, infrastructure, customers, and finances  It assists firms in aligning their activities by illustrating potential trade-offs.

Here's an illustration of the canvas and its components:

1. Value Proposition
2. Customer Segments
3. Channels
4. Key Activities
5. Customer Relationships
6. Key Resources
7. Key Partners
8. Cost Structure
9. Revenue Strucure

Some of the Questions Owners Have to Answer

1. What unique value do you provide to your customers?
2. What problems do you solve?
3. Who is your target market?
4. How do you reach your target market?
5. What are customers really ready to pay for?

How to Get More Help on the BMC?

More information can be gained at this discussion on its evolution as a planning tool.

A lot more information  and guidance is available at Strategyzer.com and Canvanizer.com - the latter has the capability for developing a canvas online and sharing it with others, such as your SCORE mentor!