The Business Model Canvas has proven to be a great way to express the current state of affairs for a startup. A business model canvas is best thought of as a methodology or worksheet to articulate the most important details of a startup in a simple, one page format. One pagers, like the one page strategic plan, are great for aligning people as well as providing clarity.
Here are the pieces of a business model canvas:
- Key partners
- Key activities
- Key resources
- Value proposition
- Customer relationships
- Customer segments
- Cost structure
- Revenue streams
Providing short bullet points for each of these items gives a powerful view into the startup while providing details that are similar but more comprehensive compared to an executive summary without the management team section.
What else? What are your thoughts on the business model canvas for startups?