In this article, we’ll see a few one-page tools to give entrepreneurs clarity of mind on their overall business to take actions to build a sustainable venture that unlocks value for many players in the long-term.
The nine building blocks of the business model canvas comprise vital partners, key activities, value propositions, customer relationships, customer segments, critical resources, channels, cost structure, and revenue streams.
The business model canvas comprises nine building blocks:
- Key partners
- Key activities
- Value proposition
- Customer relationship
- Customer segment
- Key resource
- Distribution channel
- Cost structure
- Revenue stream
The lean startup canvas is an adaptation of the business model canvas by Alexander Osterwalder, which adds a layer to the traditional business model canvas that focuses on problems, solutions, key metrics and unfair advantage based on a unique value proposition.
You can learn more about the lean startup canvas:
- Business plans rarely survive first contact with customers
- Five-year plans are worthless and a waste of time
- Start-ups are not smaller versions of large companies
- The lean start-up movement is about agile development
A value proposition is about how you create value for customers. Value Proposition Canvas is a methodology which integrated with the business model canvas can help you design a value proposition for your business model.
For a deep dive into the value proposition canvas:
- What is a value proposition?
- The customer profile
- The value map
In some scenarios, building up a business feels a lot like “throwing yourself off the cliff and assembling an airplane on the way down,” as Reid Hoffman, former PayPal, and co-founder of LinkedIn pointed out.
This is true especially when you’re trying to build a business in an innovative sector, where the speed of adoption becomes critical for its long-term success. In that scenario, the Blitzscaling canvas is better suited:
To gain a better understanding of this tool, you can see below the six levers to blitzscale:
- A glance at the four key growth factors
- Growth limiters
Assessing, designing and innovating a business model isn’t a simple feat. Thus, it is critical to have several tools that can help you look at your business from different perspectives.
The Business Model Navigator Methodology uses a simple framework to dissect a business model which looks at who, what, how and why of a business. Those four dimensions allow you to map any company’s business model by having a complete picture of its engine.
The BMI Lab created this framework. And FourWeekMBA in partnership with BMI Lab also put together a list of the business model patterns identified by its research.
Building a startup, aor a solo business isn’t simple. Yet to make this endeavor more successful you would be better off by simplifying the processes and methodologies used.
Instead of relying on pages and pages of business planning with a few one-page tools you can be way more effective.
Once you have cleared the few critical elements to build a successful business the remaining part will be about ongoing experimentation. You’ll set up feedback loops from customers, to comprise into the product and service and test if the market likes them.
This process can be simplified with simple tools that in a page can allow the build a sustainable business model!to have a clear idea about the business and start taking actions to
Other resources for your business:
- What Is a Business Model? 30 Successful Types of Business Models You Need to Know
- What Is a Business Model Canvas? Business Model Canvas Explained
- Blitzscaling Business Model Innovation Canvas In A Nutshell
- What Is a Value Proposition? Value Proposition Canvas Explained
- What Is a Lean Startup Canvas? Lean Startup Canvas Explained
- How to Write a One-Page Business Plan
- How to Build a Great Business Plan According to Peter Thiel
- What Is The Most Profitable Business Model?
- The Era Of Paywalls: How To Build A Subscription Business For Your Media Outlet
- How To Create A Business Model
- What Is Business Model Innovation And Why It Matters
- What Is Blitzscaling And Why It Matters
Handpicked business models:
- How Does PayPal Make Money? The PayPal Mafia Business Model Explained
- How Does WhatsApp Make Money? WhatsApp Business Model Explained
- How Does Google Make Money? It’s Not Just Advertising!
- How Does Facebook Make Money? Facebook Hidden Revenue Business Model Explained
- Marketing vs. Sales: How to Use Sales Processes to Grow Your Business
- The Google of China: Baidu Business Model In A Nutshell
- How Does Twitter Make Money? Twitter Business Model In A Nutshell
- How Does DuckDuckGo Make Money? DuckDuckGo Business Model Explained
- How Amazon Makes Money: Amazon Business Model in a Nutshell
- How Does Netflix Make Money? Netflix Business Model Explained