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How to create a Business Model Canvas with MS Word or Google Docs?

The Business Model Canvas allows companies to devise up new strategies for their businesses and to critically analyze and evaluate their current business model. The canvas or template of the model can be easily designed on MS Word and Google Docs so that businesses today can easily draw the model for free. It is not difficult to create the model; however, it is slightly time consuming. All you need is a simple toolbox which is available on both MS Word and Google Docs which draws shapes.

A template of the canvas on Google Docs by doing the following steps:

From Google Docs, Select CREATE > From Template

how to draw a business model canvas on word

In the search box please enter “Business Model” and click Search Templates, from the results you can see free and ready Business Model Canvas to use:

how to draw a business model canvas on word

Here is the screenshot of what it shows for this Google docs version:

how to draw a business model canvas on word

You can also have the Business Model Canvas template from the internet absolutely for free which performs all the functions which MS Word and Google Docs perform together. You can easily save, share, and add texts whenever and wherever you wish to.

The following link provides the Business Model Canvas for free without the hassle of creating one yourself:

The next level

You love working with canvases? How about bringing innovation and collaboration to the next level with great canvases and a great app.

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10 Free Business Model Canvas Templates in Word and ClickUp

Haillie Parker

July 25, 2023

The foundation of a successful business is an effective business model—your organization won’t be able to get off the ground without one!

At the same time, creating your business model is no walk in the park, and you’ll likely need to lean on some or all of your resources in the development process. One of the most accessible and time-saving resources in this area is a business model canvas template, and if you don’t have one yet or are seeking a new one, you’ve come to the right place!

Follow along as we dive into the top FAQs, benefits, and features of the best business model canvas templates and 10 downloadable examples for any type of business.

What is a Business Model Canvas Template?

Elements of a business model canvas template, 1. business model canvas template by clickup, 2. startup business model canvas template by clickup, 3. lean canvas template by clickup, 4. business planning template by clickup, 5. business planning document template by clickup, 6. lean business plan template by clickup, 7. business ideation template by clickup, 8. clickup business brainstorming template, 9. business model canvas template for microsoft word, 10. blank business model canvas template for microsoft word.

Business model canvas templates are pre-built and customizable tools to outline and visualize your business model on a single page. These documents quickly define your company’s unique value proposition , target audience, revenue, cost, resources, key partnerships, and more.

Without a template, developing your business model canvas can be a lengthy and difficult process. Plus, business model canvas templates reduce the margin for error and ensure you’re thinking strategically, working efficiently, and meeting your stakeholder’s expectations.

Business model canvas templates are also great resources to share with the entire team and keep everyone aligned on your organization’s long-term goals.

There are tons of simple, accessible, and free business model canvas templates available for virtually every business management software —but not all templates are created equally! Here are five must-have features to look for before downloading:

  • Multiple views to customize the structure of your business model plan and how you visualize it
  • Collaboration features to involve the team, stakeholders, and other departments
  • Ease of use and simplicity to ensure you’re using the template correctly
  • Flexibility to accommodate different company sizes, industries, and business models
  • Multiple integrations to bring context and information from other work tools into your template

10 Business Model Canvas Templates

Searching for the perfect business model canvas template can be an overwhelming process.

Instead of fishing through pages of links or resorting to the trial-and-error method, start here with 10 of the best business model canvas templates for ClickUp and Microsoft. 

Business Model Canvas Template by ClickUp

The Business Model Canvas Template by ClickUp empowers teams to create new business models with ease on a collaborative Whiteboard . The template starts with nine main color-coded segments to structure your business model canvas:

  • Key Partners
  • Key Activities
  • Value Proposition
  • Customer Relationships
  • Customer Segments
  • Key Resources
  • Cost Structure
  • Revenue Stream

Defining these segments will help you develop every element of your business model and give your organization the foundation to thrive. This template also prompts you to indicate the company you’re creating the business model for, along with the designer involved and the date of creation. You can also specify the version name and number if you plan on creating multiple iterations of a business model using this template. And since ClickUp Whiteboards provide an infinite canvas, you’ll never run out of space developing your ideas.

Startup Canvas Whiteboard Template by ClickUp

Startups have unique planning requirements and need a tool that can build a solid foothold for the new company. The Startup Canvas Whiteboard Template by ClickUp was designed with this in mind, and why ClickUp itself is one of the best tools for startups in the planning phase. 

This template includes everything you need to gauge the feasibility of your startup business based on various parameters. The template includes 13 segments that cover nearly every aspect of your startup to help you fully realize your vision for the business. Easily name your organization’s key partners, the problem your business or product will solve, your target market, objectives, equipment costs, the key factor to your success, and more. 

This beginner-friendly Whiteboard template allows you to create a concise summary of your business, what you want to achieve with it, and how you can succeed. It can also serve as a skeletal roadmap for a more comprehensive business plan as your company grows.

Lean Canvas Template by ClickUp

The Lean Canvas Template by ClickUp helps business leaders identify the most crucial and dangerous assumptions in their organization. It’s especially helpful when launching a new product or service, as it presents all ideas and potential problems in an organized, easy-to-understand list. Another great resource for startups, this template isn’t just for the planning phase—you can use it multiple times to organize any area of your business throughout its lifecycle.

A little different than the Whiteboard diagrams we saw above, this template applies a pre-made List to your Workspace with three five views including ClickUp’s unique Form view , Kanban-like Board view , and Table view . Using these views, managers can choose how they visualize the issues at hand and can categorize them based on factors like customer segment, cost, metrics, channels, and more.

In this template, you’ll also find a detailed Getting Started Guide ClickUp Doc to support your setup process, three custom statuses, and eight Custom Fields to access key information quickly and directly from your tasks.

If you’re starting a new business idea, the Business Planning Template by ClickUp will help you develop a thorough business plan that leaves no areas overlooked. This details all tasks you and the team must complete and keep everything organized on a clear timeline .

This template will immediately prompt you to plug in your organization’s information, deadlines, and projects into ready-made tasks arranged on an interactive list, Kanban board, or table. With four custom statuses and three Custom Fields to add references, approvals, and sections to each task, this template is somewhat simpler to learn than the previous one but includes a comprehensive Business Plan ClickUp Doc to built-out your strategy.  

Ready to learn more about business strategy? Use this template along with another strategic planning template to ensure you’re taking the proper course of action.

Business Plan Doc Template by ClickUp

If you’re not ready to put your business model plans into action, start with the Business Planning Document Template by ClickUp to fully outline and visualize your business strategy. What’s unique about this template is that it’s specifically and only for ClickUp Docs. And while it’s intuitive to learn and start using quickly, it’s by no means a simple one-pager !

The formatted Doc guides you from the top down. Starting with your company name, overview, background, and team, you’ll soon be prompted to define key metrics and research including:

  • Your marketing analysis
  • Sales and marketing strategy
  • Operational strategy

And more! Plus, you can link tasks directly in your Business Plan Doc and turn any text into an action item, helping you act on new ideas the moment they come up. And with an automatically saved version history, collaborative live editing, and assigned comments, your Doc will remain updated and act as a referrable source of truth throughout the development of your business proposal and model.

Lean Business Plan Template by ClickUp

For something a bit less extensive than our other business plan and Whiteboard templates, you can make the most of your resources with this Lean Business Plan Template by ClickUp . 

In this template, you’ll have access to multiple views depending on your preferred layout including a dynamic List, a pre-built Kanban board, and multiple Help Docs . Within each view, you’ll find convenient sections for all of your key information including your plan summary, business model canvas, prioritized tasks, or notes.

In your plan summary, you can categorize your tasks by five different custom statuses, add multiple assignees for cross-functional teams , set deadlines, attach Docs, and more. This template will establish the bare bones of a business plan as you and your team get things done, working toward your business goals.

Business Ideation Template by ClickUp

Need the perfect tool to practice and develop your ideation techniques ? Apply the Business Ideation Template by ClickUp to start mapping out new concepts. It’s also a great resource to have on hand during group discussions or brainstorming sessions . 

The template presents users with an Ideation Diagram that includes different segments to help categorize and organize ideas. You can jot down all ideas based on whether they’re process, product, or people-oriented. The legend indicates each category, and the Pool of Ideas segment will allow you and others to add certain general ideas that you can categorize later.

The entire diagram is highly visual and organized using ClickUp’s digital whiteboard software to capture and develop ideas the moment you have them.

Business Brainstorming Template by ClickUp

Especially if you rely on ClickUp as brainstorming software , the Business Brainstorming Template by ClickUp will help you nurture new ideas. 

This template allows you to categorize ideas based on:

  • What you love
  • What you know
  • What people need
  • What people will pay for 

Include multiple people on your Whiteboard diagram and use collaborative detection to see viewing your work and edit alongside each other without overlap.

This unique visual aid will make everyone feel like they’re actively contributing to discussions and brainstorming sessions, even if you work asynchronously. You can also take this template a step further and use your completed diagram to prioritize newer ideas and determine what’s worth exploring further.

Business Model Canvas Template for Word

Another option to help develop your business model is the Microsoft Word Business Model Canvas Template. It’s similar to ClickUp’s business model canvas templates and allows for simple organization of the various facets of your company.

Using this basic template, you can establish multiple key details about your business model including key partners and suppliers, your value proposition, and relationships. Identify the channels you’ll need to use to reach your customers, along with the resources required for each activity. In addition, you can add information about revenue streams and cost structure.

This tool is free to download and allows for instant use through Microsoft Word. If simplicity is something you’re looking for from your business model canvas template, this is a good place to start.

Business Model Canvas Word Template

Looking for a different Word template to build your next business plan? This Blank Business Model Canvas Template is a little more complex and flexible than the previous document—it’s also free to download!

This template gives you and members of your team a centralized view of your business model, keeping everyone on the same page, literally and figuratively. It takes the segments from the template above and presents them in a diagram format. You can view all key partners, activities, and more in organized sections and add details in the form of sticky notes. Choose from different formatting options, including colors, fonts, and arrangements to optimize how you present your data.

Find the right business model canvas template for your team

Choosing the right business model template is essential for developing a successful plan that aligns with your business goals and objectives. With a variety of options available, it can be overwhelming to find the ideal template that fits your specific requirements.

ClickUp’s extensive Template Library offers a range of customizable templates to streamline your business planning process and achieve your goals. Plus, you can access any template, hundreds of productivity features , and over 1,000 integrations for free when you sign up for ClickUp today .

Questions? Comments? Visit our Help Center for support.

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The 9-Step Business Model Canvas Explained (2023 Update)

how to draw a business model canvas on word

Written by Raquel Alberdi

Business | entrepreneurship, 16 comments(s).

Business Model Canvas

Blog » The 9-Step Business Model Canvas Explained (2023 Update)

how to draw a business model canvas on word

“A major mistake made by many start-ups around the world is focusing on the technology, the software, the product, and the design, but neglecting to ever figure out the business . And by “business” we simply mean how the company makes money by acquiring and serving its customers”.

-Reid Hoffman

After meeting with hundreds of entrepreneurs and business owners over the years I believe the LinkedIn co-founder and Blitzscaling author Reid Hoffman’s got it spot on.

People tend to focus on specific parts of their business, such as which software packages are being used, which is the cheapest supplier, how to optimize internal processes…?

They get so bogged down in the details of the day-to-day running that they lose the overall vision of their business.

Without this vision they are unable to scale, they make marginal profits, miss opportunities, struggle to innovate, and end up running “just another” business.

Another handy metaphor in understanding this common mistake is the soldier in the trenches .

Every meter of ground gained comes at a heavy cost, mistakes are made, and progress is hard-fought and slow…a day-to-day experience for 99% of entrepreneurs and businessmen.

But when you do have that 360 vision you see the entire battlefield. Decisions are much clearer, fewer mistakes are made, and progress is fast and methodical.

Fortunately, a business model framework exists that gives you both vision and clarity .

The Business Model Canvas provides entrepreneurs, business owners, and strategists with a tool to analyze, structure, and evolve a business while always keeping the bigger picture front of mind.

So let’s take a closer look at how it works.

Table of Content

What is the Business Model Canvas?

Created by Swiss entrepreneur and Strategyzer co-founder, Alexander Osterwalder, the Business Model Canvas is a visual representation of the 9 key building blocks that form the foundations of every successful business. It’s a blueprint to help entrepreneurs invent, design, and build models with a more systematic approach.

Why is it so popular within the business community?

Its simplicity. The business model canvas allows us to carry out a high-level analysis without drilling down and getting lost in the details. You just draw out the 9 building blocks on a blank canvas, fill them in as each concept relates to your business, and hang it somewhere everybody can see.

It’s a visual overview of your entire business on a single canvas.

While the Business Model Canvas is an extremely fluid concept and hyper-specific to individual companies, each canvas is still broken down into these 9 key building blocks:

Customer Segments

Value propositions, customer relationships, revenue streams, key resources, key activities, key partners.

When laid out on the canvas the model will look something like this:

 Scheme of business model in which 9 important fields are developed for its execution.

While you’ve probably come across each of the 9 building blocks before, the attractiveness of the Business Model Canvas is that it confines them to a single page , not a traditional 42-page document.

This makes it a lot easier to digest, as well as assess existing business models or map out new ideas.

How do I fill out the Business Model Canvas?

To start your Business Model Canvas you will need to breakdown and analyze each of the 9 building blocks.

A good way to approach this is to gather the heads from marketing, sales, operations, finance, and manufacturing (if product-based) and pencil-in a morning where you can all meet together.

Then, after drawing a mock canvas onto a whiteboard, proceed to dissect and discuss each of the 9 building blocks as they relate to your business. You can use sticky notes to better organize your thoughts around the canvas.

If you are an entrepreneur or new business owner working alone and don’t have a team to bounce your ideas off, not to worry. You can still carry out your analysis before sharing it with a like-minded entrepreneurial community or forum, like those found on ThePowerMBA , to get useful, insightful feedback.

Whichever way you decide to approach it, I recommend you complete each block in the following order:

  • Cost structure

For continuity, I’m going to use the fashion retail giant Zara when analyzing each of the 9 key building blocks.

If you’d like to skip to another case study similar to your own business, navigate to the table of contents at the top of the page and select one of the other business model canvas examples.

Customer segment business model canvas for Zara company

The first block of the Business Canvas Model is about understanding who is the most important customer(s) you’re delivering value to. Or, in other words, who are they? What do they do? And why would they buy your product or service?

Not a single company exists without its clients, making customer segments the best block to start with while drawing out your business model canvas.

A great exercise to define your customer segments is to brainstorm and create your company’s buyer persona (s) .

Buyer personas are fictional depictions of an ideal or hypothetical client. Typically when brainstorming a buyer persona you’d want to define certain characteristics (age, demographic, gender, income, industry, pain points, goals, etc.)

However, remember at this stage we want a snapshot of our customer segment. There’s no need to jump into great detail just yet.

In the case of Zara, there are three distinct customer segments to whom they offer different products.

The products created for each of these customer segments (clothing, shoes, and accessories) are not trans-consumable. That is to say, a woman’s dress is highly unlikely to be worn by a 7-year-old child.

Once we know exactly who it is we are targeting, it’s time to look at what we as a company have to offer.

Zara Customer Segments business model canvas template showing the development of the 9 fields

The second phase is about figuring out your company’s value propositions , and importantly, your UVP (unique value proposition). The “what” that makes customers turn to you, over your competitors? Which of their problems are you best at solving?

Each value proposition consists of a bundle of products or services that fulfill the needs of a buyer persona from your customer segment. It’s the intersection between what your company offers, and the reason or impulse customers have for purchasing.

Some popular questions to ask while determining your UVP are:

  • Which specific customer pain point are you trying to solve?
  • What job are you helping customers get done?
  • How does your UVP eliminate customer pain points?
  • What products or services do you provide that answer this specific pain point?

So let’s try and apply this to Zara. Why do people choose to purchase from them, over their competitors?

Zara’s principal value propositions are fairly clear. They offer various ranges of stylish men’s, women’s, and children’s clothing and accessories at an affordable price.

But there’s more to it than that.

If we dive a little deeper we see Zara’s value propositions are more complex, which are behind the success of the brand:

Fast fashion

Zara adds new clothes and designs to its collections every 2-3 weeks, both in its stores and online. It keeps the brand updated, fresh, and modern while maintaining its all-important medium price point

Great eCommerce experience

Once you enter Zara’s online store you’re presented with a clean, easy-to-navigate, and high-end feel. The customer segments are visible on the left navigation bar with a search tab to further aid customers with their online experience.

Zara's Canvas business model where you can see the innovative presentation of its image

Localized stores

You can find a store in nearly all major retail locations (shopping malls, retail outlets, airports, etc.) meaning accessibility is not an issue for the majority of consumers.

Flagship stores

Zara demonstrates its aesthetic evolution to customers through its flagship stores. The recent opening of their Hudson Yards , New York City flagship is a great example of this. Customers shop around its vivid, minimalist layout offering them an experience aligned with the brand’s deeper, eco-friendly values.

Zara's Canvas business model where you can see the innovative presentation of the image of its stores

Zara Hudson Yards, New York

Business Model Canvas Template Zara - Value Propositions

The next step is to ask yourself how you are reaching your customers, and through which channels ?

This includes both the channels that customers want to communicate with you as well as how they’ll receive your products or services.

Is it going to be a physical channel? (store, field sales representatives, etc.) Or is it a digital channel? (mobile, web, cloud, etc.).

Zara has 3 primary channels in which they communicate and deliver products to its customers:

  • Direct sales through their stores
  • Online (both app and website)
  • Social media

Customers can go to a traditional “bricks and mortar” store to browse, model, and purchase different items of clothing at one of their retail stores.

Alternatively, they can shop online or through their mobile application and have the product delivered straight to their door or nearest store. The choice is completely up to them!

So that covers Zara’s commercial channels, but what about how they communicate with customers?

While they do communicate through their mobile app, their predominant channel is social media.

What’s more, they’re really, really good at it.

For example, did you know that Zara invests less than 0.3% of its sales revenue into advertising?

This is only possible due to an A-rated social media presence . Customer queries are not only dealt with quickly, but recommended re-works are sent back to HQ, forwarded onto in-house designers who then apply the feedback to future collections.

This customer-first approach through fluid communication channels has saved them thousands of dollars in marketing, strengthened their brand, and created a loyal customer base.

You should only step away from this building block once you’ve decided how each of your customer segments want to be reached.

Zara Channels business model canvas template where its components are developed

Once you have acquired customers, you will need to think about how you can build , nurture, and grow those relationships.

Now, this can be automated and transactional like large eCommerce brands Amazon or Alibaba. Or, it could be at the complete opposite end of the scale and require a more personal relationship you’d typically have with a bank or your local bike shop.

Zara’s relationship with its customers is threefold, and lies somewhere in the middle of transactional and personal:

  • Salesperson at store
  • Brand through social media
  • Sentimental attachment to a product

Yes, you have the initial transactional touchpoint at the store or online, something relatively impersonal and for many the only interaction they’ll have with the brand.

However, customers (especially in the fashion industry) are encouraged to continue to interact with a brand through social media platforms.

As we mentioned before when discussing channels, Zara has a very effective communication system in place. Not only can people instantly get in touch with the brand, but also engage with new posts, images, and collections uploaded to social media.

This personal approach to customer relationship building can, in some cases, lead to the natural growth of brand ambassadors and communities .

An attachment can also develop between customers and particular garments or accessories from one of their collections. The sentimental attachment to these products also creates another potential form of brand loyalty.

The relations with Zara's clients to give a Business Model Canvas where the 9 points to be developed are seen

Now that you’ve described how you are going to create real value for your customers, it’s time to look at how you plan to capture that value.

What are your revenue streams? Is it going to be a transactional, direct sales strategy ? Are you going to consider a freemium mode l, where you give a portion of your product or service away for free with the idea of converting later on down the line?

If you’re a SaaS company such as SalesForce or Strava , then it’s likely that a licensing or subscription revenue model will be more appropriate.

At Zara, it’s extremely simple. They make their money by selling clothes and accessories either at a store or online.

Zara business model canvas template for the development of Revenue streams within the 9 points to work

As you can see, we’ve filled in the entire right-hand side of our business model canvas. We touched upon:

Customer segments

  • Value propositions
  • Revenue streams
  • Distribution channels

Now it’s time to move over to the left side of the business canvas model and look at what we need, internally , to deliver our value propositions.

Key resources of the Zara Business Model Canvas

To start with, let’s take a look at key resources.

The key resources are all things you need to have, or the assets required to create that value for customers.

This could be anything from intellectual property (patents, trademarks, copyrights, etc.) to physical holdings (factories, offices, delivery vans, etc.) right down to finances (the initial cash flow perhaps needed to start your brand).

Another key resource every company needs to consider is its human capital . Are you going to need highly specialized software engineers? Or field-based sales teams?

They are relatively capital-heavy resources that need to be factored into your business model.

In the case of Zara, they are going to need a number of key resources if they hope to deliver their propositions:

  • Stock management
  • A large, interconnected network of physical stores
  • A strong brand
  • Logistics and supply chain infrastructure

Stock is vital for both online and offline customers.

If they are unable to supply their range of products and meet customer demands, satisfaction levels fall and they have a serious problem on their hands.

A large distribution network of brick and mortar stores combined with a strong brand name help mitigate these factors, as well as reinforce any ongoing marketing activities and communication efforts.

Finally, an efficient logistics process within Zara is critical, especially when you consider the complexities involved with such a large-scale operation.

They will require the necessary technology to analyze data on inventory, storage, materials, production, and packaging, with the staff to execute each of these stages and manage the delivery of the final products.

Zara business model canvas template where the Key Resources are developed

The next step is to define the key activities – the areas you need to be good at to create value for your customers.

To mix it up a little let’s take a look at a slightly different business in Uber .

Their key activities can be broken down into:

  • Web and mobile app development
  • Driver recruitment
  • Marketing: customer acquisition
  • Customer service activities : drivers’ ratings, incidents, etc.

They need a fast, clean UX for their customers using the app, drivers to carry out their service, and the ability to both market the product and deal with any customer queries.

Zara’s key activities will differ to those of Uber. Some of the things they need to consider would be:

  • Manufacturing
  • Retail process (point of sale and 3rd party management)
  • Distribution channel / logistics

Design is a key activity as Zara’s value proposition is to provide stylish garments at an affordable price. Their collections need to be constantly updated to follow the latest fashion trends at the time.

To produce their collections Zara will also require manufacturing capabilities. Now Zara doesn’t own their own factories (we will get to that in the Key Partners section) but they still need to be involved in the garment manufacturing process.

Everything from fabric selection to pattern making, to detailing and dyeing affects the outcome of the final product which of course they have to then go on and sell.

The effective management of the retail and distribution channels (online, offline, shipping, and communication with providers) is also key. A breakdown in either of these activities, such as a poor relationship with an important provider will have serious consequences for the business.

Zara business model canvas template showing the key activities for its development

Most modern business models now require brands to build out and work with various key partners to fully leverage their business model.

This includes partnerships such as joint ventures and non-equity strategic alliances as well as typical relationships with buyers, suppliers, and producers.

A great example of a strategic partnership would be between ThePowerMBA and Forbes . In exchange for exposure of our brand to the magazine’s global audience, we provide expertise and content on high-level business education programs.

As we touched upon when discussing key activities , Zara requires strategic partnerships with many different providers if they are to design and produce their collections.

Another key partner is their major holding company, Inditex .

Inditex has several subsidiaries including Massimo Dutti , Pull & Bear , and Oysho . Being a subsidiary of Inditex means they share a consolidated balance sheet, stakeholders, management and control, and various legal responsibilities.

While as a subsidiary Zara is afforded certain freedoms when it comes to design, delivery, and the general running of the company, the overall strategy will need to be aligned with Inditex and its other subsidiaries.

Zara Key Partners business model canvas template where the eighth point is developed

The final step of the Business Model Canvas is to ask yourself, how much is it going to cost to run this model?

This includes some of the more obvious needs such as manufacturing costs, physical space, rent, payroll, but also areas such as marketing activities.

If you are unsure of exactly what to include in your cost structure take a look at a Profit and Loss statement ( P&L ) from a competitor or company in a similar industry to yours. You’ll find many items overlap such as research and development ( R&D ), cost of goods sold, admin expenses, operating costs, etc.

Once that’s done you should prioritize your key activities and resources and find out if they are fixed or variable costs .

As Zara is such a large, corporate business they are going to have both fixed costs (rent, payroll, point of sales personnel) and variables, such as costs associated with the fluctuating sale of goods, purchase of materials and, manufacturing costs.

Once you’ve completed these 9 steps, your Business Canvas Model should look something like this:

Business Model Canvas Examples

Hopefully, you were able to get a good feel for the effectiveness of the business model canvas with our run-through of Zara.

However, if you found it difficult to follow due to the stark difference between your industries, I’m going to quickly go through 3 more companies to demonstrate the tool’s flexibility:

  • Netflix (Media service/production)
  • Vintae (Vineyard)

Even if these business model canvas examples don’t align exactly with your industry, I honestly believe that studying different models gives you a competitive advantage in your professional career regardless.

If you’re currently employed by a company, you’ll better understand how your specific role helps the company achieve some of its “long-term” goals.

Alternatively, if you are a business owner yourself (or perhaps thinking of starting your own business) you’ll have a better understanding of your business and where potential opportunities lay.

I’m sure you’re familiar with our next business model canvas example candidate, Netflix .

The global media company offers an online streaming service of various movies, documentaries, and TV programs produced in-house or licensed 3rd-party content. Their success sparked a revolution in the online media world with the likes of Amazon, Apple, Disney, HBO, and Hulu all rushing to launch their own online video streaming platforms.

Netflix started life as an online DVD rental company, basically a web version of the more popular (at least at that time) “bricks and mortar” Blockbuster.

Co-founder Reed Hastings predicted as far back as 1999 that the future of media was in online streaming, saying “postage rates were going to keep going up and the internet was going to get twice as fast at half the price every 18 months.”

It wouldn’t be until 2007 that Hasting’s prediction would become true when Netflix, as we now know it, was born.

So let’s take a current look at their business model canvas:

Netflix business model in which the 9 topics are taken into consideration

As you probably know, there are very few people out there who haven’t subscribed, watched, or at least heard of Netflix. There is content for everybody: wildlife documentaries, sci-fi movies, rom coms, action-thrillers, you name it – it’s there.

That’s why their customer segment can be classified as a “ mass market ” as the base is just so diverse.

All people require is a computer, TV, internet, and/or smartphone and they’re good to go. For most developed markets, that covers just about everybody.

Value Proposition

Whether on the train to work, sitting in the car (if you’re not driving!), or relaxing at home in front of the TV, you can consume their online, on-demand video streaming service.

They also have a huge library of content for consumers to choose from, ensuring that people keep coming back, as well as increasing their mass-market appeal.

They also produce high-quality, original content to differentiate themselves from their competitors.

Most people access Netflix either through their website or mobile/TV App . Another popular channel that you may have picked up on is their affiliate partners .

You’ve perhaps signed up for a mobile, TV, and internet package where the provider offers Netflix as an extra to sweeten the deal, so to speak.

That would be an example of an affiliate partnership between Netflix and mobile service providers.

I doubt many consumers have had direct contact with Netflix unless it’s to resolve a subscription issue or general query. It’s very much a self-automated service – you download the app, select the program you wish to watch, and hit play.

Very simple, very effective.

Again, this doesn’t need much embellishment. Netflix generates money from the different tiers and packages put together in their subscription services.

This varies depending on the region to account for local markets, but on the whole, it’s sold at a low price point.

Originally, Netflix’s Key Resources would have been their unrivaled DVD collection combined with a cost-effective mail-order system.

Nowadays it’s undoubtedly the rights to stream online video content. Netflix has brokered deals with some of the biggest production studios worldwide.

Combined with their huge library of in-house productions , it’s more than enough to encourage customers to renew their subscriptions.

To help sustain interest in their product, Netflix understands they need to serve-up relevant content for each sub-sector of their mass audience. Therefore their machine learning algorithm selects content for consumers based on streaming habits (what they watched, at what time, etc,.) to personalize the customer experience.

This explains why over 80% of all content streamed on Netflix was cherry-picked by this algorithm, making it a Key Resource for their business model.

Also, Netflix accounts for a whopping 12.6% of global bandwidth usage . The literal capacity to stream their services must be met meaning bandwidth must also be included here.

Content procurement is arguably their biggest Key Activity. They need to find people to produce and deliver their original content, including actors, studios, writers, etc. as well as secure the licensing and streaming rights from 3rd party producers such as Sony, Warner Bros, and Disney.

Finally, they need a fast, easy-to-use application to host their online streaming service. This needs to be available for both TV and mobile devices if they are to deliver their “on-demand” value proposition.

K ey Partners

Seeing as Netflix’s entire business model is largely based around streaming 3rd party content, key partnerships need to be built with production studios . No content, no Netflix!

Also, as we touched upon earlier Netflix is one of the largest consumers of bandwidth worldwide. If the speed and delivery of their streaming service are to be continued then deals will also need to be made with internet service providers (ISPs).

Netflix’s biggest expenditures come from both their in-house content procurement and 3rd party licensing agreements . The high-quality standard of video streamed on Netflix is only possible due to the speed and performance of its online platform and application , which has additional costs of staff, software, etc.

To show you just how flexible the business model canvas can be, I wanted to throw in a slightly leftfield example. Vintae is a Spanish wine producer who, after a detailed analysis of the business model canvas, was able to innovate and disrupt one of the world’s most competitive industries.

As some of you may know, the wine industry is extremely competitive. It’s also steeped in history and tradition , making it very challenging for newcomers to grab market share, let alone think about year-on-year growth and revenue.

However, CEO “Richi” Arambarri looked at the traditional “ bodega ” business model and saw a chink in its armor.

A “small” innovation in the business canvas model helped them to become one of the region’s most important winery groups, with over 10 installations and a presence across all regional denominations (Rioja, Priorat, Rias Baixas, etc.) with year on year growth of 30% – practically unheard of in such a competitive industry.

So how did Vintae analyze the business model canvas to find a niche in their market?

To answer that question, we must first look at the traditional winery business model .

Traditional Winery Business Model with its 9 developed points

As you can see, the wine industry has historically been patrimonial. Vineyards and estates are passed down through generations with the winery responsible for all phases of production, clarification, and distribution.

The traditional winery business canvas model suggests you must be the owner of the winery/vineyard where the wine is “manufactured”, meaning physical assets are a key resource of the business model.

So, if you wanted to start producing a Rioja, for example, you’d have to set up your vineyard in the region.

This is monumentally expensive as you need to:

  • Purchase the land
  • Plant a vineyard
  • Absorb set-up and installation costs
  • Deal with maintenance costs

It’s here where Vintae saw their opportunity.

What if we move vineyard ownership across the business model canvas from key resources to key partners ?

By leasing the equipment and space of large wineries (of which there was plenty), they could still produce their wine but reduce the cost and exposure associated with land purchase, crushing equipment, huge storage tanks, vineyard maintenance, and their bottling line.

This enabled them to focus on their sales, marketing, and distribution channels to create a better brand experience for their customers.

Also, it afforded them more flexibility when creating new wines as they were no longer confined to the limitations of grapes grown on their vineyard.

The lightness of this new business model eliminates maintenance overheads, channels energy into personalizing the customer experience, and allows for unprecedented levels of growth in one of the world’s most competitive industries.

Vinate business model

Business Model Canvas Software

Although I did mention starting with a large whiteboard, sticky notes, and a pack of colorful sharpies there are several options in which you can digitize the business canvas model production process.

While I still believe the aforementioned process is extremely valuable (it gets your entire team’s input in a single hour-long session) you may decide it more viable for each member of management to pool their ideas digitally before sharing with the rest of the group.

If that’s the case, then take a look at some of the following software tools for creating your business model canvas.

Strategyzer

Created by the founders of the business model canvas Alex Osterwalder and Yves Pigneur , Strategyzer offers a range of business model canvas templates for you to get started with.

If you opt for the paid model (there is a 30-day free trial period) they offer a series of various classes that teach you how to build and test different value propositions and business models.

A real-time built-in cost estimator analyzes the financial viability of some of your business ideas, identifying alternative areas you may wish to explore with your model.

All-in-all, it’s a great resource to play around with and test some of your business ideas, with the option to dive into further detail if you see fit.

Canvanizer is a free, easy-to-use web tool that allows you to share links between team members who are brainstorming ideas for a business model canvas, but working remotely.

Like Strategyzer, there are several business model canvas templates provided to help you get started with your analysis. The strength of this platform is its accessibility. Much like a Google Doc., several people can brainstorm on the same canvas simultaneously with changes being synchronized automatically.

Business Model Canvas Tool

A ThePowerMBA alumni, impressed by the simplicity and effectiveness of the tool, went ahead and created the free application Business Model Canvas Tool .

It’s an incredibly intuitive, and easy-to-use tool that allows you to create templates simply by clicking the + button in each building block.

Each business model canvas created can be downloaded and shared as a pdf. with the rest of the team.

Would You Like to Learn More about Business Models?

If, after going through our 9-step guide on how to use the Business Model Canvas you’d like to learn more about different business model analysis tools , take a look at our alternative MBA business program .

As you’ll see, the course gives students a 360-degree view of business and management practices – such as engines of growth, segmentation and targeting, and value propositions.

I highly recommend you go check it out.

Regardless, I’d love to hear what you thought about this guide. Was it helpful? Would you like to see additional business cases analyzed from your industry?

Let us know in the comments below.

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16 Comments

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Debashis Rout

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How to Create a Business Model Canvas (With Template)

May 19, 2021 - 10 min read

Yuvika Iyer

Do you want to create a simple business plan? Something comprehensive, flexible, and easy to scribble on a napkin? You can do that with a business model canvas.

Every business has ever-changing, diverse interests. Illustrating all of this on a single sheet of paper may sound challenging — but by using a business model canvas template, your team can focus on the key elements of your business to ensure nothing slips through the cracks.

Business model canvas explained

"Lengthy business plans often increase the risk of failure," wrote Alex Osterwalder in his 2008 book “Business Model Generation.”

The business model canvas offers a way to avoid this, providing a simplified version of a business plan. A business model canvas is a simple, visual framework that helps teams outline the most fundamental elements of a business.

As a handy business tool, teams can use a business model canvas to map the nine core areas of a business, such as customer needs, value proposition, and platforms for customer acquisition.

This article will explain the business model canvas, its benefits, and how it can help your team develop a successful high-level business strategy and actionable roadmap .

How can a business model canvas help your business?

Many teams are so overwhelmed with operational issues that they don’t have time to focus on the core business strategy .

Utilizing the business model canvas helps create a unified framework that depicts this strategy alongside an action plan that teams can follow.

But how do you know if you need a business model canvas? If you are starting a business or even toying with an idea, a BMC can create a powerful visual representation of your concept. A business model canvas can also be a handy reference for your team as they move towards successful business outcomes. Here are five more ways in which a business model canvas can help your company.

It’s simple and easy to follow

Whether you have a business idea or are managing a large enterprise, having an easy-to-follow business plan can be immensely helpful. As a precise one-page document, teams can modify specific business model canvas elements as they go along without completely redoing a 50- or 100-page document.

Focused on being actionable 

Every business plan needs to be actionable. Using a business model canvas helps you accurately define your organization’s core value proposition and keep it aligned to your business strategy.

Your focus could be to achieve profitability in the first year or gain a large market share. Stay competitive by defining actionable steps for your team within the business model canvas.

Flexible and scalable as the business evolves 

No business stays the same forever but evolves as it interacts with diverse market dynamics, competitors, product innovations, and changing consumer needs.

To take your idea to market, you need a tool that connects the dots between what your customers want, your business's unique offering, and the desired profitability streams.

By creating a business model canvas template, you instantly get an edge over other market players engrossed in lengthy business plan documents.

How to Create a Business Model Canvas (With Template) 2

Puts the customer first

Ignoring customers sets businesses up for failure . Companies flounder if they direct their energies solely towards making a great product or service. With a business model canvas template, your focus stays on the ultimate end-users of your product. 

Having a business blueprint will force team members to think about what customers want, the primary issues they need help with, and how your product or service can do that. 

Helps get team and executive buy-in

23% of businesses fail without the right team on their side. Every company needs team members with a diverse mix of skills, experiences, and talents.

Companies require a solid business blueprint for hiring team members or bringing in investors. Having a business model canvas can help get everyone on board with your organization’s core vision. Potential employees and investors can visualize how the different organizational parts interact and see how they can become an integral part of the company.

Promotes focus on the unique value proposition of your business

19% of companies fail due to being outperformed by their competitors. If there's no difference between your product and one from another firm, why should customers come to your company? Every business needs a clear value proposition that helps them stand out — that's where a business model canvas template comes in.

When you look at the nine core elements of a business model canvas (explained below), you'll quickly notice some factors are controllable to a certain extent, while others are more fractious.

Your company's core value proposition sits right in the middle. It acts as the central pillar around which all other elements exist, defining the fundamental nature of the business.

What goes into each segment?

To fill out a business model canvas, you should know what goes into each of the nine fundamental segments.

Have a business model canvas template ready before you and your team start brainstorming on each of these elements (you'll find one below) and then add the research and data into the relevant sections. 

Customer segments In this fundamental business area, teams identify the core individuals they will help with their product or service. To do this, they create two to three buyer personas — potential customers that a business seeks to serve.

A buyer persona is a simple but detailed description of a prospective business customer. It assists with capturing the customer’s real-life problems and motivations, helping the business deliver what they want.

Value proposition The value proposition is the ultimate value that a customer will get from your product or service. It seeks to answer the question, “Why will a customer buy?” Here are a few popular value propositions for any organization:

  • Customization ability
  • Unique product design
  • Innovation in product or service
  • Exceptional service or product status
  • Affordable pricing and clear pricing model definition

Channels In a business model canvas, channels are the platforms through which a company sells its product or service to end-users. To identify the best channel for your business, look at how you plan to connect with your customers.

A few possible channels can be:

  • A self-owned retail store
  • Direct sales staff
  • Affiliate marketing platforms
  • Google Adsense

A business can either own its channels or partner with other companies that have their own channels.

Customer relationships Customer relationships in a business model canvas define how the company will obtain, retain, and increase new customers. Let's take a look at how customer relationships are built:

  • Identify how to obtain customers and from which platforms (e.g., Google, Facebook ads)
  • Gain clarity on how to retain existing customers using different techniques (e.g., exceptional customer service)
  • Discover how to increase the customer base of the business (e.g., sending text or email notifications to prompt website visits)

Revenue streams Revenue streams help the business owner decide how to generate revenue and achieve their predefined organizational goals . Key decisions with revenue streams include:

  • Choosing from a one-time payment model or monthly subscriptions
  • Keeping a free plus paid model or a wholly paid product or service with a free trial
  • How payment from customers will be received — website payments, PayPal, or in-store

Key resources Key resources in your business model canvas represent the assets that are vital to your company’s operation. Business assets can include anything from the below categories:

  • Physical assets , including machines, buildings, IT hardware, and vehicles
  • Intellectual assets , including patents, copyrights, partnerships, brands, and employee skills
  • Human assets , including talented employees in knowledge industries such as IT, law, and content marketing
  • Financial assets , like cash balances in the bank or lines of credit

Key activities Want to make your business canvas model work? Make sure to list the key activities that will help expand the business's core value proposition. Key activities can come from any of the below categories:

  • Production: How you will deliver your end product to the customers. You may need to order more stock or upgrade materials
  • Platform: For example, the software used to sell your product, which may require upgrades or maintenance
  • Problem-solving: For example, designing innovative solutions for issues that your customers face

Key partners Every business has some non-core activities that should preferably be outsourced. Key partners are the companies or individuals that complete these non-core activities.

Take a company like Facebook, for example — its key activity is to upgrade and maintain its platform. It doesn't create its own ads, so it also needs to strike deals with companies that wish to advertise on its platform. 

Similarly, it doesn’t create its content — the users do. The primary reasons for choosing key partners can be:

  • Achieving economies of scale
  • Mitigating risk and unpredictability in business
  • Acquiring resources and advertisements for its business (e.g., ads for Facebook)

Cost structure Once the key activities are outlined on the business model canvas, it's time to assign cost structures. Be clear and precise with the estimated business costs of the planned activities to ensure you reach your profitability goal.

Business model canvas example and template

How to Create a Business Model Canvas (With Template) 3

  • Customer segments: Facebook's customers can be divided into two distinct categories — advertisers and platform users
  • Value proposition: The primary reasons platform users come to Facebook. Users feel connected to friends and families, while companies get more leads through advertising on the platform
  • Channels: The website where all data is stored
  • Customer relationships: Facebook incentivizes users to stay on the platform through notifications and new features, leading more companies to advertise on it
  • Revenue streams: Facebook earns money through advertising, while companies gain new customers from Facebook ads
  • Key resources: Facebook's key resources are its platforms — Facebook.com, the Messenger application, and Facebook Ads Manager for advertisers
  • Key activities: Maintaining the website and its infrastructure are two of Facebook’s key strategic activities
  • Key partnerships: Facebook's key partners are its users and advertisers
  • Cost structures: Major costs incurred by Facebook include managing the software, backend engineering operations, product development, regular operations, and staff salaries

How to create a business model canvas (with template)

Ready to create your business model canvas? Before you begin, take some time to brainstorm answers to these questions related to the nine core fundamental areas of the canvas. Here's a simple business model canvas template exercise that can help your team get started.

  • Customer segments: Can you identify your potential customers?
  • Channels: Once the product or service is ready, how will customers discover it?
  • Key partnerships: Can any non-core business activities be outsourced?
  • Customer relationships: How will your business generate leads and retain and increase your customer base?
  • Cost structures: Can the business classify its main costs and expenses into fixed and variable? Is there a way to align costs with the core value proposition and planned revenues?
  • Revenue streams: Has the business decided on a profit margin? How will it make money?
  • Key resources: Which core resources are critical for the business to succeed?
  • Value proposition: Why will customers choose your business? Does the company satisfy any particular need with its product or service?
  • Key activities: Are there any activities that help your business deliver its unique value proposition to customers?

Do I need a lean model canvas? 

If your business is still an idea or in its infancy, choosing a lean model canvas makes more sense.

Inspired by the business model canvas, the lean model canvas was created by Ash Maurya . It is a one-page business plan template that distills the lean startup methodology into the original business model canvas. 

Lean model canvas assimilates multiple essential data points to develop a simpler, start-up optimized version of a business model canvas. It adds four more building blocks to the business model canvas, namely:

  • Problem: Identify the problem faced by the customer and focus on solving it
  • Solution: Start with a minimum viable product that helps solve the customer problem effectively
  • Unfair advantage: List the barriers to entry in a specific sector and your company’s competitive advantages
  • Key metrics: Focus on one goal at one time to ensure you’re doing a good job

Lean model canvas drops four elements from the original business model canvas — key partners, key activities, key resources, and customer relationships. 

While the original illustrates a more comprehensive business approach, the lean model canvas has a sharper customer orientation. Many start-ups prefer the lean model canvas to a traditional business plan for building an actionable roadmap.

The lean model canvas is a great fit for younger companies or those working with a tight time frame or budget to market with a more targeted problem resolution approach.

Why you should use Wrike to build a business model canvas 

The business model canvas’ nine building blocks clearly illustrate the core business areas and their interrelationships. Whether you're trying to figure out the model for a company with three employees or 50,000, a business model canvas can be very useful.

Begin by mapping out the most crucial information about your business, then link the blocks to ensure every value proposition is linked to a revenue stream and a specific customer segment.

Using Wrike to build your business model canvas template, you can iterate faster, communicate with ease, and enable organization-wide success . With a centralized hub, your teams can configure custom dashboards easily and produce better quality work using premade templates . Implement what you've learned about the business model canvas by trying out a free two-week trial of Wrike today.

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Yuvika Iyer

Yuvika is a freelance writer who specializes in recruitment and résumé writing.

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Free Business Model and Business Model Canvas Templates

By Joe Weller | November 26, 2018

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In this article, you’ll find the most comprehensive business canvas and business model templates in Microsoft Excel, Word, and PDF formats. Document, outline, and manage your unique business structure to ensure you are optimizing your target market, key resources, value proposition, and more.

Direct Sales Business Model Template

Direct Sales Business Model Template

Strategize on sales and distribution tactics and plan for your organization’s unique sales pipeline with this template. With room to document distribution models, pricing models, partner strategy, and sales management, you can easily create an effective sales business model. Download this template in Microsoft Excel, Word, or PDF formats.

Download Direct Sales Business Model Template

Excel | Word | PDF  | Smartsheet

Pay-Per-Use Business Model Template

Pay Per Use Business Model Template

Designed for business structures that rely on pay-per-use customers, this business model template allows you to track the success of your organization and strategize on future plans. With sections to document and track year-over-year paying customers, customer growth, premium paying customers, and net new customers, you can stay on top of the success — or areas of improvement — in your pay-per-use business model.

Download Pay-Per-Use Business Model Template

Excel | Smartsheet

Business Model Canvas Template

Business Model Canvas Template

This template is designed to analyze and review current business models or to plan and document a strategy for new business models. Use this template to document the key details of your business plan, including key partners and activities, value proposition, and strategic channels. This template is available for customization and download in Microsoft Excel, Word, and PDF formats.

Download Business Model Canvas Template

Excel | Word | PDF

Franchise Business Model Template

Franchise Business Model Template

Use this template to create a targeted business model for franchises in order to illustrate potential success or highlight current profits. This template includes areas for documenting executive summaries and company descriptions, product or service descriptions, management structure, and more. This free template is available in Microsoft Excel, Word, and PDF formats.

Download Franchise Business Model Template

Freemium Business Model Template

Freemium Business Model Template

This template provides a business model for companies that have a freemium pricing strategy. It helps you enumerate key products or services that the organization should upcharge for. Use this template to document critical details of your freemium business, such as cost structure, customer segments, and revenue streams.

Download Freemium Business Model Template

Subscription Business Model Template

Subscription Business Model Template

Outline subscription details, monitor business growth, and keep track of the highest producing revenue streams with this business model template. This template offers space to document and track new subscription members, premium subscription members, and total yearly paid revenue. Download and customize this Microsoft Excel template based on your business needs.

‌ Download Subscription Business Model Template - Excel

Startup Business Model Template

Startup Business Model Template

Create a traditional business model and detail all key aspects of your organization with this startup business model template. This template allows you to document the components of your startup that you want to highlight, such as executive summaries, company descriptions, marketing plans, and financial information. This template is available for download and customization in Microsoft Word.

Download Startup Business Model Template

Collective Business Model Template

Collective Business Model Template

Gather, document, and report on all the key details of your business with this collective business model template. Use this template to share the core components of your organization, such as key partners, resources, and activities, as well as customer segments and cost structures.

Download Collective Business Model Template

Inclusive Business Model Template

Inclusive Business Model Template

This free template includes space to document the most fundamental building blocks of your company, so you can create a comprehensive business model. Document and communicate key details, such as products or services, cost structures, revenue streams, and more. This template is available for download in Microsoft Excel, Word, and PDF formats.

Download Inclusive Business Model Template

Open Source Business Model Template

Open Source Business Model Template

Use this template to plan and record a comprehensive business model for open source projects. This template includes sections to document everything from problems and solutions to unique value propositions and customer channels. It is available for download in Microsoft Excel, Word, and PDF formats.

Download Open Source Business Model Template

Consulting Business Model Template

Consulting Business Model Template

Geared toward businesses in the consulting field, this template lets you construct a comprehensive overview of your organization’s business model. Customize the details of this template to fit your needs. The template includes sections for company descriptions, mission statements, finances, key business metrics, and more.

Download Consulting Business Model Template

Small Business Model Template

Small Business Business Model Template

This template is perfect for small businesses who want to map out their business model, either at the beginning stages of their business, or as their business grows. Use this template to include the most important high-level details, such as company description, market analysis, organization information, and financial projections.

Download Small Business Business Model Template

Harvard Business Model Template

Harvard Business Model Template

Use this business model template, influenced by the Harvard Business School, to create the most comprehensive and detailed overview of your business. With space to include key details, like partners, business activities, resources, and value propositions, this template allows you to customize your business plan and share the details among your team.

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SaaS Business Model Template

SaaS Business Model Template

Leverage this template to accurately explain, build out, and model your SaaS business plan. This template is especially helpful in mapping out key resources, like developers, software value propositions, and revenue streams based on usage. Download this template, available in Microsoft Excel, Word, and PDF, and customize it based on the details of your company.

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Lean Business Model Template

Lean Business Model Template

To eliminate waste and provide the best value to the customer of a lean business, use this template to document and track the core components that contribute to your organization’s success. With room to include potential problems and solutions, cost structure, and unique customer segments, this template allows you to model and perfect the ideal lean business.

Download Lean Business Model Template

Service Business Model Template

Service Business Model Template

This template is designed to analyze and review business models related to the service industry. Use this template to document the key details of your business plan, including key partners and activities, value propositions, and strategic channels. This template is available for customization and download in Microsoft Excel, Word, and PDF formats.

Download Service Business Model Template

Affiliate Business Model Template

Affiliate Business Model Template

Use this preformatted template to plan, track, and assess the business model of an affiliate business in order to keep all details in check. With space to record key details, such as market segmentation and targeting, marketing strategy, business operation, and more, this template gives you the structure to maintain a successful affiliate business. This template is available for download in Microsoft Excel, Word, and PDF formats.

Download Affiliate Business Model Template

What Is a Business Model Canvas?

A business model canvas is a strategic management document that assists you in developing business models of all kinds, from lean to startup to subscription models. It is a purely visual chart that identifies and describes core business elements, like value propositions, market segments, and customers.

What Is a Business Model Canvas Used For?

Typically a one-page document, a business model canvas grants a high-level overview of the business structure and operation and describes the overall value of an organization. Not only is it a strategic tool for developing a new business, but it’s also a way to upgrade or analyze an already-active business. A business model canvas brings clarity, strategy, and simplicity to a business plan, especially regarding areas that are usually difficult to describe.

Why Is a Business Model Canvas Important?

A business model canvas is important because it helps provide a company with clarity, focus, and strategy. It offers a detailed structure of what the business does, how it should perform, and what markets or customer groups it should target.

What a Business Model Canvas Can Help an Organization Do

A business model canvas not only increases the transparency of the business plan by supplying a single, flexible explanation of the business and its strategy, but also helps a business or organization to do the following:

Describe, design, or redesign a business model

Organize new thoughts and ideas about how a business can increase its success

Enable both new and existing organizations to increase their focus on the operations and processes that run their business

Provide a platform to explore new options for a business, test any assumptions, and discover new opportunities

Devise new strategies for a business

Look at a business with a critical eye, identifying areas of improvement or areas of great success

Reevaluate any unique aspects of a business that are working and fine tune those aspects in order to improve an overall business strategy

Discover opportunities to grow or improve upon existing processes

Provide either a general guideline or a detailed layout of a business, depending on its structure

Identify specific instructions on how to achieve a new or improved business plan

Assess potential trade-off opportunities

Align marketing strategies and other business activities

Enable a structured conversation about a business model and an operation and management strategy that can include stakeholders, key team members, and external resources

Present strategic analyses, like a market analysis, customer analysis, or operational analysis

Develop new insight on customers and what they are seeking from a business

Describe the relationships between new initiatives and how a company can achieve those initiatives simultaneously

Who Created the Business Model Canvas?

Business theorist Alexander Osterwalder created the business model canvas following his earlier work on business model ontology.

The Core Structures of Business Models

Based on his analysis, Osterwalder proposed that all businesses share similar modeling, using the following core structures:

Infrastructure : This includes key business activities, key resources, and key partners that the business leverages on a regular basis.

Offering : The concept of offering deals with the unique value proposition of a business, which is what distinguishes one business from another.

Customers : This includes customer segments, channels, and customer relationships, all of which drive the strategy and overall success of a business.

Finances : Finances include both the cost structure and the revenue streams that drive the profit of a business.

When Was the Business Model Canvas Invented?

Alexander Osterwalder invented the business model canvas in 2008, following his work on business model ontology. Since 2008, business experts have created many variations on Osterwalder’s original business model canvas, including ones that are industry specific.

What Do You Include in a Business Model Canvas Template?

A business model canvas has a few main components that build out the structure, organization, and strategy of a business. The components include the following:

Key Activities : The key activities identify the crucial steps and activities a business must perform in order to deliver on its propositions and continue to succeed. As a business changes and grows, it must discover new techniques to perform better, provide better services or products, and consider how these key activities help to drive the value proposition.

Key Resources/Partners : The key resources delineate the strategic assets needed to achieve core business goals and maintain a more targeted and successful approach than one’s competitors. Three core business products make up the key resources: product, scope, and infrastructure.

Value Proposition : This is the driving force of the business, as it identifies the uniqueness of a business’s offering (i.e., what differentiates it from other competitors). The value prop works to pinpoint the needs of the customer and deliver on those needs with the company’s own product or service.

Channels : The channels signify the various media used to communicate the value prop to the appropriate customers. Channels also identify where and how you will sell your product and to what customers.

Customer Segments : This refers to the way in which customers interact with the business through the product or service lifecycle and which type of market a customer might engage with. Types of markets can include niche, mass, segmented, diversified, or multi-sided.

Cost Structure : The cost structure of a business model canvas pairs together how key activities will drive costs and determines how well the costs are aligned with the value prop. It is at this time that businesses must determine other key cost decisions, like using a fixed, variable, cost-driven, or value-driven structure and figuring out how the scope and scale of the business relate to the costs and revenue.

Revenue Streams : This determines the way a company generates revenue from each customer segment. Revenue streams can come in the form of asset sales, usage or subscription fees, lending, leasing, renting, licensing, brokerage fees, and advertising. A business determines its revenue streams based on its overall structure.

What Is a Business Model Canvas Report?

A business model canvas report is a roll-up of all the key details described in a business model canvas. The report aims to describe each component in further detail, providing commentary on both why a company is structured the way it is and how it plans to attain that structure.

What Is a Lean Canvas Template?

A lean canvas template is a one-page business plan that summarizes a business and breaks it down into nine key elements. Those elements include problems, solutions, key metrics, value propositions, advantages, channels, customer segments, cost structures, and revenue streams.

Why Have a Business Model Canvas?

Businesses and organizations should have a business model canvas in order to break down the key components of a business and discuss what is and isn’t working. This process will help you identify problem areas, improve on certain aspects, and continue to grow, generate revenue, and succeed.

Tips For Creating a Business Model Canvas

The best way to get started is by gathering a core group comprised of key team members and stakeholders (ideally around 3-5 people) and drawing out a canvas on paper or creating a canvas digitally.

Allow yourself plenty of undisturbed time to start mapping out a high-level overview of the business and its structure. Connect the core building blocks of your business, like market segments and target customers, and brainstorm how to achieve the most success.

Make sure to keep on open mind and separate the current from the ideal state of the business. After you have completed your canvas, review it and share it with your team to collect further ideas or comments. Ask team members to look for missing details, both in the design and structure of the canvas.

Once you have completed the canvas review, test your new plan and analyze it periodically to ensure it is working for your business.

Examples of Successful Business Models

As you begin to create your own business models and business model canvases, use the following resources to help you create the best business model for your organization.

Score’s Business Plan Template for Startups

The U.S. Small Business Administration’s Business Plan Tool

The $100 One-Page Business Plan

LawDepot’s WYSIWYG Business Plan Template

Santa Clara University’s My Own Business Plan Template

Rocket Lawyer’s Business Plan Templates by State

Move Beyond Your Business Model Canvas with Real-Time Work Management in Smartsheet

Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. 

The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

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Using The Business Canvas Model- Explained and Template

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Feb. 21, 2022

Most of the time, we make business sound more complicated than it should be —don't believe me?

A “standard” written business plan is defined as “A plan for the successful operation of a business, identifying sources of revenue, the target customer base, products, and details of financing” ...

A mouthful, or an overly complicated word document that would take hours to draft. That is where the Business Model Canvas comes in to save us all:

What is the business canvas model (BMC)?

The Business Model Canvas is a tool used for visually developing or displaying a business model. A BMC template helps determine and align the key business activities and their relationship to your (hopefully groundbreaking and amazing) value proposition.

What is the objective of the model canvas template?

The 9 block model was designed by Alexander Osterwalder and Yves Pigneur to help you and your team collaborate to find a better way to explain and visualize your business's strengths, opportunities, and possible weaknesses.

Simply put, it will make your business model:

  • Easy to understand
  • Customer Oriented
  • Easy to communicate

Should you use it? 5 Benefits of using a Business Canvas

Provides a structure for ideation.

The “whiteboard” style of the model unlocks your visual creativity and unique possibilities. Many find it easier to visualize a business model in one simplified view.

Focuses you on your value proposition

It's easy to get distracted by all the hassle of running a business, that's why the Business Model Canvas brings your attention back to what really matters: Your Value Proposition . It's there as your north star that you should continually reference to move forward.

Is fast to complete

Up for a challenge? Get yourself some snacks and your team can have the model completed in a matter of hours. This allows for quicker feedback, quicker ideation, and faster iteration.

Provides a holistic view of your business

With the Business Model Canvas, you can see how all the elements of your business are interrelated and inform or affect each other.

Gives you “The One” document to share everywhere

Do you want your mentor, boss, brother, or house pet to grasp the concept of your business? Then the BMC is the way to go. Because the visual presentation is easy to understand, teams, stakeholders, advisors, and partners should find the canvas to be relatively straightforward and simple.

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When should you create it?

Time for the bad news… sadly, the Business Model Canvas is not intended to serve in place of a business plan —I know, you are going to have to do some writing after all.

Instead, the BMC strives to provide clarity and only the most important information about your business or business idea. For startups especially, it provides a path to organize and consolidate ideas around your key functions.

Whether you use it before starting a business or to review and improve on how things are going, remember that the factors listed in the BMC change and evolve over time. So keep your head on a swivel!

How to create a Business Canvas Model: 9 Key Resources

1) key partners.

Those tasks and activities that are influential but which you will not do yourself.

2) Key activities

What are the most important strategic things you must do to make the business model work?

3) Key resources

Describe your most important strategic assets. Typically, a combination of: Physical, Intellectual, Human, and Financial.

4) Value Proposition

Describe the value you deliver to each customer segment —newness, high performance, design, brand, price, etc.

5) Customer relationships

Answers how you Get, Keep and Grow your customers. To answer this question walk through the entire customer journey in detail.

6) Channels

Describe how you reach your customers. Will you use your own channels or partner?

7) Customer segments

Define the ideal customer personas your value proposition is intended to benefit, who are your customers?

8) Cost structure .

List the key costs and ensure they are aligned with your value proposition.

9) Revenue streams

Where does the money come from? What strategy will you use to capture the most value from your customers?

Quick BMC examples to get you started

Let's provide a couple of quick examples to get your brain juices flowing. While going through these, remember that it's not only critical to describe each building block of the model as accurately as possible, but also to identify how they relate to each other.

Skype has been around for ages, connecting people around the world with a friendly interface and a free-to-use business model for most users. Pay special attention to its value proposition and how it relates to its revenue streams. You will quickly find out what makes this tech giant unique and undefeated in the space.

business_modelo canvas-02.jpg

The best razors ever? Not exactly. But the most known worldwide. Gillette knows their customer like the palm of their hand, they are not wasting resources in getting them "the very best" but instead convenience and price. Pay attention to their key partners and channels to understand what makes them special.

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Need help to create your own Business Model Canvas?

Luckily, there are many resources to get you started creating your very own BMC. A mentor could be your best choice to get an expert with experience in business to guide you throughout the entire process. The MicroMentor platform provides you with the opportunity to find a business mentor to help you design your canvas and optimize the building blocks that you might identify as weak or with the potential to be better.

Sign up and connect with a business mentor for free here .

Hypothetical Examples of the Creative Process

Google home.

Let’s talk through a hypothetical example, using Google's AI speaker (“ Google Home ”) as our guide.Imagine that as they were talking through what belonged in the “Revenue Streams” bucket of the business model canvas, Google’s Home team came up with three sources of revenue to start with:

  • Selling Home devices.
  • Using the device to sell other stuff as customers ask it to connect to different streaming providers. (“Hey Google, please play music from Spotify, Apple Music, or Pandora .”)
  • Licensing Home's proprietary speech-recognition technology to other businesses.

Now, if the Home product team put these on their business model canvas, they’d know that they need to make room for budget, time, and resources on their product roadmap for all of these revenue streams.

Example of the Business Model Canvas: Channels

Or think about the Channels bucket in the business model canvas. If your team was building out a canvas, maybe you’d have several ideas for reaching customers:

  • The in-house sales team.
  • Affiliate partners .
  • Word-of-mouth advertising from users.

It’s easy to write. But how are you going to translate that “word-of-mouth” strategy into an actual plan? Maybe you’ll need to budget time and resources for developing things right into your product that make it easier for users to share their experiences with friends, such as a handy tool to help them tweet about it. Potentially, you’ll even want to include an “Invite a friend” feature that lets users easier send a trial license to friends, or a couponing feature that offers some reward to a user who brings in two more users

—The point is, your business model canvas can serve as a great strategic reminder of the things you’ve determined are important enough to make it onto your product roadmap (check out our article on that).So you can always look back and see immediately—it’s just one page, after all—if you’re still working on all the essential elements of your product, or if you’ve inadvertently strayed from them and gotten lost in the wrong details.

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FAQs about business model canvas

  • What is a business model canvas used for?

A business model canvas is a tool used to visually depict a business model. Business models are often very tedious and lengthy documents that are difficult to follow. Instead, a business model canvas allows you to create something more intuitive and engaging, while still covering most, if not all the critical topics you need to revise.

  • What are the steps to create a business model canvas?

There are 9 key components to a business model canvas that you need to spell out: start with the key partners, activities, resources, and propositions that define your business and will enable you to offer a product or service. Then, spell out the nature of your relationship with your customer base, along with customer segments and the channels with which you’ll reach them. Finally, spell out the cost structure and revenue streams of your business.

  • What should you include in a business model canvas, or what are the areas of a business model?

You should include 9 key elements in your business canvas template: key partners, key activities, key resources, key propositions, customer relationships, channels, customer segments, cost structure, and revenue streams.

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A quick and dirty guide to the Business Model Canvas

Reading time: about 8 min

  • Product development

Of course, evaluating your business model can be daunting. With so many moving parts to sort through, it can be hard to know where to start. 

That’s where the Business Model Canvas template comes in. 

Using 9 key building blocks, the Business Model Canvas helps leaders conduct high-level analysis of their operations and map their business model in a simple, easy-to-understand visual document. 

Use this Business Model Canvas guide to learn how it works and how to use a Business Model Canvas template to kickstart your planning process. 

business model canvas

What is a Business Model Canvas?

A Business Model Canvas is an easy-to-digest one-page document that succinctly summarizes how your business should work based on the best information you currently have.

Created in the mid-2000s by business theorist and Strategyzer founder Alexander Osterwalder, it’s a strategic management and lean startup tool that condenses your strategic planning onto a single page. It’s used by successful innovators around the world like Intel, Panasonic, 3M, and Mastercard.

It’s like a mini business plan, but it’s much faster to put together. A business plan, on the other hand, is a detailed projection of what your company hopes to achieve and how it hopes to achieve it. 

A comprehensive business plan is typically between 30 and 50 pages long. In contrast, the one-page Business Model Canvas template makes it easy for an organization to describe its model.

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Need an even simpler, quicker way to visualize your business strategy? Try the Lean Canvas Model.

Benefits of using a Business Model Canvas

There are risks to plunging ahead without making a plan since, according to the U.S. Bureau of Labor Statistics, 50% of businesses fail within their first five years. 

Whether or not you make a profit depends on how well you design and implement all the activities and resources that make up your business. You can use the Business Model Canvas to avoid getting overwhelmed by these pressures and get going on your new business.

  • Plan your strategy: The Business Model Canvas helps you plan and evaluate your assumptions quickly and efficiently so you can spend more time growing your business.
  • Be flexible: It makes it much easier to change things on the fly since you write down just the essentials.
  • Find gaps: It gives you a bird’s-eye view of your business so you can quickly see where you need to focus your energies.
  • Drive innovation: It encourages understanding, discussion, creativity, and analysis within your team.
  • Share your vision: It helps you create a complete pitch for potential investors or partners.

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Develop a plan for achieving your organizational goals through the strategic planning process.

Key elements of the Business Model Canvas

The Business Model Canvas consists of nine areas of strategic planning. If you’re starting a new business from scratch, don’t worry too much about the details––just get your vision down so you can get moving. Include the following elements of the Business Model Canvas: 

Value proposition

Your value proposition should be easily communicated in a single sentence, and it should inform everything you do. What’s your mission? What problem are you going to solve, and how are you going to solve it? What products and services will you offer to meet customers’ needs (these may vary by customer)? 

Most importantly, you want to define how your brand will be different from what’s already out there.

Customer relationships

Think about the kinds of relationships you want to establish with your customer segments. How will you communicate and build rapport with your customers throughout their journey? Will you offer personal assistance, create a community environment, or present a self-serve model? Consider how and where your customers like to communicate. Every communication should drive home the problem you solve and why your solution is the best (or, better yet, only) one around. 

Customer and market segments

These are the people and organizations for whom you create value. Who could really use the solution you’re offering? If there are multiple groups, list them all out.

You may need to investigate potential buyer personas, find niche markets that fit your offerings, or come up with a multi-sided market strategy that brings together different groups of customers.

Channels are the points at which you interact with customers to deliver value. How are the people who need your solution going to buy it? Take a look at your customer segments. Where do they spend money right now? Try to make it as easy as possible for a customer to say “yes” to buying your solution.

Key partners

You’ll probably rely on other people––suppliers, distributors, etc.––to create and deliver value to your customers. What individuals or entities outside of your business will you need to work with in order to produce, market, and deliver your solution? What key activities or resources can someone else take care of so that your business can focus on your value proposition?

Key activities

If an activity isn’t directly tied to delivering on your value proposition, then it isn’t key, and you probably shouldn’t be doing it. So what do you absolutely have to do in order to produce, market, and deliver your value proposition? 

Key resources

If the resource isn’t necessary to deliver on your value proposition, ask yourself if you really need it. What do you absolutely need to have in order to produce, market, and deliver your solution? These could be human, financial, physical, or intellectual resources.

Cost structure

This should be a description of the costs of operating your business. How much will your key activities, resources, and partners cost you? At this point, it may be a good idea to take a second (and a third) look at each of these categories and cut out everything that isn’t absolutely essential to delivering on your value proposition.

Pay attention as well to any fixed costs you’ll have to incur, variable costs you’ll need to keep an eye on, and changes in costs as you scale.

Revenue streams and pricing model

Decide what customers will pay for and how they will pay you. How much do you need to charge? Keep in mind that you need to make enough to cover your costs and have something left over to grow your business and reward you for your efforts.

Additionally, will your solution be subscription-based? Will you offer individual purchases? Choose a pricing model that will fit best with your customer base and your cost structure.

How to use a Business Model Canvas

The main goal of using the Business Model Canvas is to validate your business model. By laying out all the components, you can find simple, small-scale ways to test each aspect of your business model in a cycle of improvement.

1. Fill out the canvas

Filling out the canvas is quick and painless, and it should give you a lot of clarity. Try to finish it in just 30 minutes. Start with the value proposition and then proceed in the order outlined above, moving from the theoretical to the more concrete aspects of your strategy.

To demonstrate what a filled-out canvas might look like, imagine that a seventh-grader named Timmy wants to start a neighborhood lawn mowing business over the summer. His Business Model Canvas might look something like this:

business model canvas example

2. Identity and test your assumptions

It’s smart to have a plan. It’s even smarter to make sure that it actually works. Maybe you think that offering a subscription plan is the best pricing model, but once you run an A/B test, you realize that your customers prefer paying each time for your services. 

Find the key metrics that you can track to better understand your customers and your success in reaching them. If you aren’t doing well, these metrics will also help you understand why.

3. Adapt your strategy

Once you test your assumptions, make the necessary tweaks to your business strategy. You could even fill out a new Business Model Canvas to keep track of your changes and have a visual reminder of what you’re aiming for.

For example, you can make multiple copies of your canvas document in Lucidchart to explore potential future iterations of our business model, highlight areas where costs can be reduced, and map out relationships between key partners and their various functions.

4.  Repeat the cycle

The best way to grow your business is to continually reexamine your vision and performance. In effect, your Business Model Canvas should be a living document that represents your best hypothesis in an evolving landscape. Markets, customers, and trends change, and you need to be able to change with them. 

Whether you write your Business Model Canvas in the kitchen or the boardroom, you’re ready now to come up with a clear and effective business model. You can get started on your Business Model Canvas quickly in Lucidchart. 

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Looking for more ideas? Explore another way to define your business with a strategy mapping template.

About Lucidchart

Lucidchart, a cloud-based intelligent diagramming application, is a core component of Lucid Software's Visual Collaboration Suite. This intuitive, cloud-based solution empowers teams to collaborate in real-time to build flowcharts, mockups, UML diagrams, customer journey maps, and more. Lucidchart propels teams forward to build the future faster. Lucid is proud to serve top businesses around the world, including customers such as Google, GE, and NBC Universal, and 99% of the Fortune 500. Lucid partners with industry leaders, including Google, Atlassian, and Microsoft. Since its founding, Lucid has received numerous awards for its products, business, and workplace culture. For more information, visit lucidchart.com.

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The Business Model Canvas

The Business Model Canvas is a strategic management and entrepreneurial tool. It allows you to describe, design, challenge, invent, and pivot your business model. This method from the bestselling management book Business Model Generation is applied in leading organizations and start-ups worldwide.

how to draw a business model canvas on word

The Business Model Canvas enables you to:

  • Visualize and communicate a simple story of your existing business model.
  • Use the canvas to design new business models, whether you are a start-up or an existing businessManage a portfolio of business models
  • You can use the canvas to easily juggle between "Explore" and "Exploit" business models.

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The Business Model Canvas

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How to make a great Business Model Canvas

how to draw a business model canvas on word

Most of us are familiar with business models, which are a company’s plan for making a profit. A typical business model identifies the products or services that the company intends to sell, the target market, and any possible expenses.

Since a business model is so high-level, it can be hard to visualize how it might work in practice. It can be even harder to connect an organization’s everyday roles, responsibilities, projects, and functions to the overall business model. That’s where the business model canvas comes in.

This blog will introduce you to the business model canvas, a strategic tool that allows you to visually develop and display your business model. By the end of the blog, you’ll have a deeper understanding of what makes a business model canvas so important and how to create your own.

  • What is a Business Model Canvas?

The business model canvas was first developed by Alexander Osterwalder in his book Business Model Ontology . Osterwalder broke down the segments that form a basic business model into a one-page canvas.

A business model canvas is a strategic tool that enables you to look systematically at your business model, understand how it works, and keep everyone in your organization aligned. Think of it as a North Star that outlines everything that makes your business tick: key partners and activities, your value proposition, customer relationships and segments, resources, distribution channels, cost structures, and revenue streams.

The Business Model Canvas Explained

Whether you’re at a new business or an established one, a well-thought-out business model is crucial for success. Business models help developing businesses attract investors, recruit talent, onboard new hires, and align employees. They help established businesses stay ahead of trends and anticipate challenges. A good business model can compel investors or partners to work with a company they’re interested in supporting.

The problem, though, is that a business model is a lot to digest. That’s why the business model canvas is such a useful tool.

The business model canvas is a snapshot of all the key components of a business model. It enables you to take those key components and organize them into a format that’s easily digestible. A business model canvas zooms in on a particular product or service to break down how exactly the company expects to derive value from it.

  • Business Model Canvas or Lean Canvas?

People often use “business model canvas” and “lean business model canvas” interchangeably, but there are a few differences. The business model canvas focuses on a specific product or service that generates revenue. A lean canvas focuses on a specific problem that the organization is looking to solve.

Lean canvases are popular with startups because they enable you to zoom in on a problem, iterate on potential solutions, and move quickly to the next challenge. Whereas the business model canvas defines the infrastructure, costs, and revenue streams that go into running a business, the lean canvas focuses on the channels that enable you to troubleshoot a specific problem. The broader business model canvas pays close attention to customer segments, channels, and relationships, while the lean canvas deemphasizes these elements.

  • What is Included in a Business Model Canvas?

Although you can adapt the business model canvas to your needs, they generally contain nine core components. Here are the building blocks of a business model canvas.

  • Key partners. Every business model canvas lists the partners and suppliers that your business leverages for success. The canvas includes any motivations for the partnerships — i.e. what exactly you get out of them.
  • Key activities. The canvas summarizes the activities that your business must undertake in order to support your value proposition. It lists the activities that are most important for distribution channels, customer relationships, and revenue streams.
  • Value proposition. The value proposition is the core value you aim to deliver to your customer. Think of it as two key components: the need you are serving for your customer, and how that’s different from what your competitors are doing.
  • Customer relationships. These include any relationships you have with customers, including how you interact with them, how interactions differ between customers, what needs your customers have, and how you integrate those needs into your business in terms of cost and format.
  • Customer segments. These are the ideal customer personas that your value proposition is designed to benefit. A basic business model canvas outlines the potential differences between segments and steps in the customer journey.
  • Distribution channels. The canvas details how you reach customers, provide services, and deliver your value proposition. This portion of the canvas answers crucial questions about your customers, such as: Which channels work best for reaching them? How much do they cost? How can you integrate these channels into your workflows and your customers’ routines?
  • Cost structures. A business model canvas identifies the primary costs that go into operating your business and providing services. It shows the relationship between those costs and other business functions, including which resources or activities are the most expensive.
  • Key resources. These are the resources that your business uses to operate distribution channels, provide services, maintain customer relationships, and build revenue streams.
  • Revenue streams. The canvas describes how your business generates revenue by delivering on your value proposition. How do your customers pay? How much does each revenue stream contribute to your overall revenues? And what are you customers willing or unwilling to pay for?
  • How to Create a Business Model Canvas

To create a business model canvas, start with your overall business model. At its core, a business model is simply:

  • The products and services you plan to sell,
  • the expenses you will incur in delivering those products and services, and
  • how you expect to make a profit.

Once you have those core components in place, you can break them down even further in your business model canvas. Spell out the partners, activities, resources, and propositions that define your business and allow you to offer your products or services. From there, articulate the relationships you have with your customers, including your customer segments and the channels you use to reach them. Finally, you can spell out the cost structure and revenue streams associated with your business.

  • Creating Your Own Business Model Canvas

Want to get started on your own business model canvas? Miro’s free template makes it easy to customize and share a business model canvas with your collaborators. Get started today!

Improve your business value with Miro  

Check out our  business model canvas template, miro is your team's visual platform to connect, collaborate, and create — together..

Join millions of users that collaborate from all over the planet using Miro.

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  • Newsletters

Google’s Gemini is now in everything. Here’s how you can try it out.

Gmail, Docs, and more will now come with Gemini baked in. But Europeans will have to wait before they can download the app.

  • Will Douglas Heaven archive page

In the biggest mass-market AI launch yet, Google is rolling out Gemini , its family of large language models, across almost all its products, from Android to the iOS Google app to Gmail to Docs and more. You can also now get your hands on Gemini Ultra, the most powerful version of the model, for the first time.  

With this launch, Google is sunsetting Bard , the company's answer to ChatGPT. Bard, which has been powered by a version of Gemini since December, will now be known as Gemini too.  

ChatGPT , released by Microsoft-backed OpenAI just 14 months ago, changed people’s expectations of what computers could do. Google, which has been racing to catch up ever since, unveiled its Gemini family of models in December. They are multimodal large language models that can interact with you via voice, image, and text. Google claimed that its own benchmarking showed that Gemini could outperform OpenAI's multimodal model, GPT-4, on a range of standard tests. But the margins were slim. 

By baking Gemini into its ubiquitous products, Google is hoping to make up lost ground. “Every launch is big, but this one is the biggest yet,” Sissie Hsiao, Google vice president and general manager of Google Assistant and Bard (now Gemini), said in a press conference yesterday. “We think this is one of the most profound ways that we’re going to advance our company’s mission.”

But some will have to wait longer than others to play with Google’s new toys. The company has announced rollouts in the US and East Asia but said nothing about when the Android and iOS apps will come to the UK or the rest of Europe. This may be because the company is waiting for the EU’s new AI Act to be set in stone, says Dragoș Tudorache, a Romanian politician and member of the European Parliament, who was a key negotiator on the law.

“We’re working with local regulators to make sure that we’re abiding by local regime requirements before we can expand,” Hsiao said. “Rest assured, we are absolutely working on it and I hope we’ll be able to announce expansion very, very soon.”

How can you get it? Gemini Pro, Google’s middle-tier model that has been available via Bard since December, will continue to be available for free on the web at gemini.google.com (rather than bard.google.com). But now there is a mobile app as well.

If you have an Android device, you can either download the Gemini app or opt in to an upgrade in Google Assistant. This will let you call up Gemini in the same way that you use Google Assistant: by pressing the power button, swiping from the corner of the screen, or saying “Hey, Google!” iOS users can download the Google app, which will now include Gemini.

Gemini will pop up as an overlay on your screen, where you can ask it questions or give it instructions about whatever’s on your phone at the time, such as summarizing an article or generating a caption for a photo.  

Finally, Google is launching a paid-for service called Gemini Advanced. This comes bundled in a subscription costing $19.99 a month that the company is calling the Google One Premium AI Plan. It combines the perks of the existing Google One Premium Plan, such as 2TB of extra storage, with access to Google's most powerful model, Gemini Ultra, for the first time. This will compete with OpenAI’s paid-for service, ChatGPT Plus, which buys you access to the more powerful GPT-4 (rather than the default GPT-3.5) for $20 a month.

At some point soon (Google didn't say exactly when) this subscription will also unlock Gemini across Google’s Workspace apps like Docs, Sheets, and Slides, where it works as a smart assistant similar to the GPT-4-powered Copilot that Microsoft is trialing in Office 365.

When can you get it? The free Gemini app (powered by Gemini Pro) is available from today in English in the US. Starting next week, you’ll be able to access it across the Asia Pacific region in English and in Japanese and Korean. But there is no word on when the app will come to the UK, countries in the EU, or Switzerland.

Gemini Advanced (the paid-for service that gives access to Gemini Ultra) is available in English in more than 150 countries, including the UK and EU (but not France). Google says it is analyzing local requirements and fine-tuning Gemini for cultural nuance in different countries. But the company promises that more languages and regions are coming.

What can you do with it? Google says it has developed its Gemini products with the help of more than 100 testers and power users. At the press conference yesterday, Google execs outlined a handful of use cases, such as getting Gemini to help write a cover letter for a job application. “This can help you come across as more professional and increase your relevance to recruiters,” said Google’s vice president for product management, Kristina Behr.

Or you could take a picture of your flat tire and ask Gemini how to fix it. A more elaborate example involved Gemini managing a snack rota for the parents of kids on a soccer team. Gemini would come up with a schedule for who should bring snacks and when, help you email other parents, and then field their replies. In future versions, Gemini will be able to draw on data in your Google Drive that could help manage carpooling around game schedules, Behr said.   

But we should expect people to come up with a lot more uses themselves. “I’m really excited to see how people around the world are going to push the envelope on this AI,” Hsaio said.

Is it safe? Google has been working hard to make sure its products are safe to use. But no amount of testing can anticipate all the ways that tech will get used and misused once it is released. In the last few months, Meta saw people use its image-making app to produce pictures of Mickey Mouse with guns and SpongeBob SquarePants flying a jet into two towers. Others used Microsoft’s image-making software to create fake pornographic images of Taylor Swift .

The AI Act aims to mitigate some—but not all—of these problems. For example, it requires the makers of powerful AI like Gemini to build in safeguards, such as watermarking for generated images and steps to avoid reproducing copyrighted material. Google says that all images generated by its products will include its SynthID watermarks. 

Like most companies, Google was knocked onto the back foot when ChatGPT arrived. Microsoft’s partnership with OpenAI has given it a boost over its old rival. But with Gemini, Google has come back strong: this is the slickest packaging of this generation’s tech yet. 

Artificial intelligence

Ai for everything: 10 breakthrough technologies 2024.

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Generative AI took the world by storm in 2023. Its future—and ours—will be shaped by what we do next.

Google DeepMind’s new AI system can solve complex geometry problems

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IMAGES

  1. Business Model Canvas Template

    how to draw a business model canvas on word

  2. Business Model Canvas Template Word

    how to draw a business model canvas on word

  3. How To Use The Business Model Canvas

    how to draw a business model canvas on word

  4. How To Use A Business Model Canvas Template Word To Take Your Business

    how to draw a business model canvas on word

  5. 10 Free Business Model Canvas Templates in Word and ClickUp

    how to draw a business model canvas on word

  6. 50 Amazing Business Model Canvas Templates ᐅ TemplateLab

    how to draw a business model canvas on word

VIDEO

  1. How Can I Use the Business Model Canvas for Startup Success?

  2. Business Model Canvas Presentasi Aurora English Course Entrepreneurship Class

  3. How To Create BMC (Business Model Canvas)

  4. Business Model Canvas: Vending Machine Controller

  5. BUSINESS MODEL CANVAS (BMC) ENT300 AS1175D

  6. BUSINESS MODEL CANVAS PRESENTATION ( ETR 2583 ) AISYA HAZRINI BT ABDULLAH ( DHI 4A )

COMMENTS

  1. Business Model Canvas Template in Word (DOCX)

    Download the Business Model Canvas in Word (DOCX). File: business-model-canvas.docx. Author: Alex Osterwalder. Type: Template. Format: Word (DOCX) Welcome to Neos Chronos. Your editable Business Model Canvas (BMC) Template should download automatically - typically your browser will open a pop-up window.

  2. How to create a Business Model Canvas with MS Word or ...

    From Google Docs, Select CREATE > From Template In the search box please enter "Business Model" and click Search Templates, from the results you can see free and ready Business Model Canvas to use: Here is the screenshot of what it shows for this Google docs version:

  3. 10 Free Business Model Canvas Templates in Word and ClickUp

    Haillie Parker Writer July 25, 2023 9min read Table of Contents What is a Business Model Canvas Template? Elements of a Business Model Canvas Template 10 Business Model Canvas Templates 1. Business Model Canvas Template by ClickUp 2. Startup Business Model Canvas Template by ClickUp 3. Lean Canvas Template by ClickUp 4.

  4. The 20 Minute Business Plan: Business Model Canvas Made Easy

    The Business Model Canvas proposes that there are three core business types: product, scope, and infrastructure. These tend to have similar types of Key Resources. Outputs: a list of Key Resources linked to your business' Key Activities. Notes: Product-driven businesses have a differentiated product of some sort.

  5. Business Model Canvas: A 9-Step Guide to Analzye Any Business

    Created by Swiss entrepreneur and Strategyzer co-founder, Alexander Osterwalder, the Business Model Canvas is a visual representation of the 9 key building blocks that form the foundations of every successful business. It's a blueprint to help entrepreneurs invent, design, and build models with a more systematic approach.

  6. Business Model Canvas: Explained with Examples

    The answer is simple. The business model canvas offers several benefits for businesses and entrepreneurs. It is a valuable tool and provides a visual and structured approach to designing, analyzing, optimizing, and communicating your business model. The business model canvas provides a comprehensive overview of a business model's essential aspects.

  7. Business Model Canvas Word Template

    This blank canvas is divided graphically into nine building blocks, which must be filled in as follows: Customer Segments: you should start filling out your Business Model Canvas here. That's because it's easier to design your business when you already know who you're selling to.

  8. How to Create a Business Model Canvas (With Template)

    How to Create a Business Model Canvas (With Template) May 19, 2021 - 10 min read Yuvika Iyer Do you want to create a simple business plan? Something comprehensive, flexible, and easy to scribble on a napkin? You can do that with a business model canvas. Every business has ever-changing, diverse interests.

  9. What is a business model canvas? Overview with template

    The business model canvas is a template introduced by Alexander Osterwalder in 2005 as part of his Ph.D. studies under the supervision of Yves Pigneur. The business model canvas outlines nine crucial elements of a business model in an easy-to-understand visual template: customer segments, value proposition, channels, customer relationships ...

  10. How To Use The Business Model Canvas

    How To Map A Business Model. To develop a visual map of a business model you put the nine blocks together. Redesign the blocks and you create new forms of value. A mistake often made is to ignore the customer in the design. Increasingly with services taking centre stage, business modelling defines the customer experience.

  11. Free Business Model Canvas Templates

    Download free, customizable business model and business model canvas templates in Microsoft Word, PowerPoint, and PDF formats. ... and drawing out a canvas on paper or creating a canvas digitally. Allow yourself plenty of undisturbed time to start mapping out a high-level overview of the business and its structure. Connect the core building ...

  12. Using The Business Canvas Model- Explained and Template

    Customer Oriented Easy to communicate Should you use it? 5 Benefits of using a Business Canvas Provides a structure for ideation The "whiteboard" style of the model unlocks your visual creativity and unique possibilities. Many find it easier to visualize a business model in one simplified view. Focuses you on your value proposition

  13. Business Model Canvas: The Definitive Guide and Examples

    Download a PDF Business Model Canvas template, and take several colored markers, sticky notes, and anything else you may need. For example, if you are brainstorming in a big team, a board is a must for enhanced convenience. Online. Choose the platform where you will work with a template. It can be Google Docs, Omnigraffle, or the Stratygizer ...

  14. Quick Guide to the Business Model Canvas

    A Business Model Canvas is an easy-to-digest one-page document that succinctly summarizes how your business should work based on the best information you currently have.

  15. Business Model Canvas

    The Business Model Canvas enables you to: Visualize and communicate a simple story of your existing business model. Use the canvas to design new business models, whether you are a start-up or an existing businessManage a portfolio of business models. You can use the canvas to easily juggle between "Explore" and "Exploit" business models. Webinars.

  16. How To: Business Model Canvas Explained

    Jul 7, 2016. --. 10. Sheda Director Oyem Ebinum. The Business Model Canvas (BMC) is a strategic management tool to quickly and easily define and communicate a business idea or concept. It is a one ...

  17. How to make a great Business Model Canvas

    To create a business model canvas, start with your overall business model. At its core, a business model is simply: The products and services you plan to sell, the expenses you will incur in delivering those products and services, and. how you expect to make a profit.

  18. Business Model Canvas Walkthrough

    One point for the idea, three for the completed canvasCome up with an idea for a business,The idea should be no more than a paragraph long and you should:Wri...

  19. How To Use Business Model Canvas (With Template and Examples)

    Updated October 18, 2023 by Xtensio. A well-developed business model canvas will help streamline planning, development, and execution across your business. It should align everyone's objectives and eliminate inconsistencies between the various people who contribute to your business objectives. Use Xtensio's free template to create your own ...

  20. Make a Business Model Canvas (How-tos, Examples, Tips)

    When building your business model, you need to: Define your product or service Identify strategies to promote your product or service Anticipate the costs involved in running the business Highlight how the business will generate revenue

  21. How To Fill In A Business Model Canvas

    The Business Model Canvas is a great way of mapping out an idea, allowing it to be understood, tested and improved. The tool is a single page with nine connected boxes, which show how all parts of your business work together for success. It can be sketched anywhere - on a whiteboard, napkin or notepad.

  22. Create a Business Model Canvas Online

    Download and share Finalize your business model canvas online and easily download it as a high-resolution JPG, PNG, GIF, or PDF. Share it digitally through email or social accounts, or publish it as a poster for your office using Canva Print. You can also embed it to your website, your business presentation, or visual Docs in Canva.

  23. Using the Business Model Canvas template in draw.io

    Reading Time: 10 min You can easily create your own Business Model Canvas in draw.io with your distributed team using our template. A business model canvas visually shows you the different aspects that must be considered when building your business or improving an existing business and lets you focus on how you can best attract customers and partners, build the best product and service and ...

  24. Google's Gemini is now in everything. Here's how you can try it out

    And iOS users simply download the Google app, which will now include Gemini. This will let you call up Gemini in the same way that you use Google Assistant: by pressing the power button, swiping ...