Stacey McIntosh has worked with the team at Sage to design an infographic tool for developing a business model canvas.
The phrase “proper planning prevents poor performance” is highly applicable to businesses of all sizes. Whether you are an entrepreneur starting a new business from scratch or a blue chip multinational corporation, it’s critical that you have a well-documented plan in place that outlines the strategies, tactics and resulting actions that will enable you to hit a set of defined objectives.
A business plan should lay the foundations for success; 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.
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. This is where the Business Model Canvas can benefit your organisation.
What is a Business Model Canvas?
Put simply, the Business Model Canvas is a one page business plan. Initially developed by Swiss business theorist, author and consultant Alexander Osterwalder, this strategic planning tool is used by many organisations across the globe.
Essentially, it uses a template that can help your business simplify its planning in a highly visual way. It can help you create a business plan that:
- Builds from your value proposition
- Outlines how your activities need to align to achieve your objectives
- Illustrates the potential trade offs that may be required to meet goals.
Our handy guide provides more information about how you should go about filling the template in. However, in the session, you should have people who have the knowledge and can provide information on the following areas:
- Key partners
- Key activities
- Key resources
- Value proposition
- Customer relationships
- Customer segments
- Cost structure
- Revenue streams
To find out more about the guide visit the Sage website.