We’ve spent so many years trying to create business plans for the brilliant ideas we sometimes have, but let’s face it: business plans hardly work in practical sense.

Traditional business plans are usually very lengthy, take up a lot of time and effort to create. Those of us who end up creating them, hardly ever go back to looking at them again. Instead of traditional business plans, people are opting for the Business Model Canvas to help them map out their business ideas!

 

Explaining the Business Model Canvas

If you need a template to help you explain business models, or develop a completely new product, The Business Model Canvas is the way to go! It is a template, which helps you map out your ideas effectively. The template includes divisions that cover the customer segmentation, customer relations, the channels used, value propositions, specific activities, the resources, key partners, cost structures, and revenue planning!

Using the business model canvas is extremely easy and effective, it doesn’t have lengthy plans and unrealistic goals.

 

Uses of the Business Model Canvas

Instead of spending too much time creating business plans that ramble on for several pages, using a Business Model Canvas to create a business plan is much more effective, and less time consuming. Since the canvas is so simply laid out, going back to make a few changes is a lot more doable. It not only helps map out ideas for new businesses, but also acts as a layout to review existing businesses, or to launch new products. Here’s how:

For Start-ups

Are you just starting out, and are struggling with lengthy business plans? Try using the Business Model Canvas to help you create a business plan that is easily explainable to your staff, investors, and just about anyone who shows interest in what you’re doing.

Yes. The Business Model Canvas is that easy to use and understand that you can discuss it with anyone, whether they are a professional or not. Using the Business Model Canvas helps new businesses create their pitches effectively!

Existing Businesses That Need New Edge

The Business Model Canvas can help existing businesses map out the changes they want to create – this doesn’t always have to mean a complete transformation, but even little changes or minute shifts are considered to be a change in the business plan. The use of these templates is often extremely useful as these templates help identify the things missing in the original plans and helps them design newer strategies.

Launching New products

An existing business could want to launch a new product in the market, or introduce a new product line altogether. For each of these executions, planning can easily be carried out on the Business Model Canvas in an effective and time conserving manner.

 

Conclusion

The Business Model Canvas is a revolution for those planning their businesses, as it is proving to be more effective and less time consuming. The business model canvas is not just for start-ups, but even for existing businesses looking for a new way to grab attention!