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When starting a business, one of the first things you should know is what type of company you want to create and what business model you are going to adopt. If you were wondering what the Canvas model is, we anticipate that it is a tool that helps you create different business models in a simplified way.
What is the Canvas business model
To understand what Canvas is, we start from the basis that it is a model made up of nine blocks that correspond to the characteristics of a business: market segments, value proposition, distribution channel, customer relationship, sources of income, resources. key, key activities, key partners and cost structure.
The entrepreneur who has a business idea in mind must be able to fill in these blocks. If you can’t, it shows that your idea is not yet mature enough.
How the Canvas model is applied
There are many successful examples of the Canvas model, since for more than a decade it has been used for business planning of all kinds.
What is usually done in these cases is to use a template in which the nine blocks are clearly displayed, and that is that the more visual the information is, the better you will be able to process it.
If there are several people who are going to participate in the business project, each one should give their opinion on each of the blocks. If you are just an entrepreneur, in each of the blocks you can place different ideas. It’s like brainstorming or brainstorming.
Annotations can be erased, moved from one box to another, rewritten, etc. The idea is that the exposed information gives rise to a debate from which the definitive business model emerges.
Benefits of applying the Canvas model to your online business
The Canvas model was created by Alexander Osterwalder and is already used worldwide due to the many benefits it has.
- Being a very visual tool, it facilitates the understanding of the information.
- It allows you to analyze the business idea from very different points of view.
- At a single glance, all the essential elements of what the business will be are seen, so it also serves as a strategic analysis tool, which allows us to detect weaknesses and strengths.
- It is an easy-to-use methodology available to all entrepreneurs.
- It works whether there is a team behind the business idea or a single entrepreneur.
- It encourages innovation in the business environment while enhancing creativity and analysis.
Canvas business model blocks
The structure of this model is based on dividing the ideas into the following blocks:
In this section you can define the associations that will help you boost your business, whatever their type.
The activities that will define your business and that it will be important to convey to users so that they are able to easily recognize what you offer them, and what type of problems you are going to provide solutions to.
The resources of any kind (human, technical, etc.) that you will need to carry out your activity efficiently.
What is it that differentiates you from your competition? Why should users choose your product or service and not others like it? You must answer these questions clearly and concisely in this section.
Relations with clients
It is very important to be clear about the type of relationship that your clients will require: personalized attention? technical support? Sales meetings? It is good to have this defined in advance so that everyone who is involved in your business knows how these relationships with customers and potential customers should be maintained.
The channels (physical or online, or both) that you will use to publicize and get your product or service to your customers.
It is vital that you know who are the clients to whom you are going to direct your business, and you must define them in this section.
Here the different costs (fixed, variable, etc.) will have to be taken into account and what will be the best way to reduce and optimize them.
Sources of income
Last but not least: are you clear about what your sources of income will be to make your business viable?
Canvas template for your business
The easiest way to define your business with this Canvas model is to use a template and fill in all its sections to be clear about them.