Whether you’re just starting up or looking to grow your business, a clear plan is key for defining your
business goals and objectives. It should be a living document that sets out how you aim to achieve
your targets and what problems you might encounter along the way.
Many businesses choose to avoid creating a plan because of the time commitment associated with
the task. However, creating a business plan doesn’t have to be a laborious process and you can ease
the burden by using the Business Model Canvas.
The Business Model Canvas
Created by Swiss business theorist, author and consultant Alexander Osterwalder, this one-page
business plan serves as a strategic tool for simplifying the planning process. It is essentially a
template that can be used on its own or as a supplement to a larger plan.
The Business Model Canvas acts as a straightforward and visual representation of the key elements
of your business. You can use it to test the viability of different strategies in order to see what will
really work to drive success. It can also be adapted to businesses that don’t pursue revenue growth
as their primary objective, such as charities.
When sitting down to create your own Business Model Canvas, it’s important to make sure the key
people from each area of your business are present in order to create a complete picture of the
company. This should be a short planning session and will hopefully provide your employees with a
clear vision of the business and where it is aiming to go.
How does it work?
The guide below from accounting software experts Sage outlines the benefits of the Business Model
Canvas and includes tips on how to fill in the different sections of the template so you can start to
define and achieve your goals.
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