![]() The simplicity of the model allows you to focus on what’s really going to drive performance and not get too bogged down with non-essential activities. It’s obviously a lot faster to compile a plan on a single sheet than it is a lengthy written document.Īdditionally, using the Business Model Canvas to plan potential strategies can also allow you to quickly test the viability of an approach. Here are three benefits you’ll get by using the Business Model Canvas for planning: 1. Its use isn’t restricted to creating the entire plan for a company either.Ī study by business strategy company Strategyzer found that 21% of the time, it is used to develop a new product or service. There are many advantages to using the Business Model Canvas as a planning tool to supplement a full business plan. Find out more Benefits of the Business Model Canvas Thinking about starting a business or already putting your ideas into action? We’ve got the resources, expertise and software to help you achieve your goals. Illustrates the potential trade offs that may be required to meet goals.Outlines how your activities need to align to achieve your objectives.It can help you create a business plan that: Initially developed by Swiss business theorist, author and consultant Alexander Osterwalder, this strategic planning tool is used by many organisations across the globe.Įssentially, it uses a template that can help your business simplify its planning in a highly visual way. ![]() Put simply, the Business Model Canvas is a one page business plan. This is where the Business Model Canvas can benefit your organisation. However, one of the most prevalent reasons for organisations not having a fully documented business plan is the time it takes to create and the sheer volume of information that is required. It can be vital for securing funding and should be a living document that evolves with the business and the environmental factors that will impact operations and performance.
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