In 2012 when I co-founded our digital agency, we spent weeks putting together a 20 page business plan, which rarely got referenced or used over the years. In 2017 I learned the ways of Strategyzer by Osterwalder and their famous Business Model Canvas tool, which allows you to understand your entire business model in a straightforward, structured way. We decided to give this a go.
Armed with several Post It’s and sharpies, we began filling in each segment, which got us thinking about the customers we served, what value propositions we offered and through what channels, and how our company makes money. So instead of a 20 page document, we had our entire business model visible on one page, telling us how it was going to work. And when we needed to adapt, It was easy and quick to reference, giving us a wider view in just a few hours.
So the next time you want to start a business or app idea, try the Business Model Canvas to find the right ingredients.