Tool details
Business Model Canvas
Develop or redefine your business model from a circular design perspective.
Tool category:
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When to use
When you want to sketch out the business model of existing services or products, or prototype the business model of new concepts.
Why you should
To shape your business model, capturing value for your customers, key partnerships, resources, and distribution models.
What you get
A holistic view of your business.
Steps to take
Sit down with your team and start to fill out the sections of the worksheet (link at the bottom of the page) – this will help you use a circular lens for your business.
There is not a rigid start and end point. Circular design thinking is an iterative process of continuous learning, prototyping, and feedback loops. As such, you may continuously come back to the user(s), as their perspectives fit within the system, and iterate on this business model.
When you fill it out for the first time, expect to find holes. It’s okay not to know exactly how everything will work. Adapt as needed and continue to reference this as you iterate on your solution.
Further reading
The business model canvas is a tool that helps you map the design and invent new business models. With the business model canvas, you can map out your entire business model in one image.
Below is an explanation of each fields that you must fill:
Customer Segment
These are all the people and organizations which you're creating value for. Including everyone from visitors to paying customers.
Value Proposition
For each segment, you have a specific value proposition. These are the bundles of products and services that create value for your customers.
Define the Customer Segment and Value Proposition using the Value Proposition Canvas.
Channels
Channels described through which touch points you're interacting with customers and delivering value.
Customer Relationships
The customer relationships outline the type of relationships you are establishing with your customers
Revenue Streams
The revenue streams make clear how and through which pricing mechanisms your business model is capturing value
Key Resources
Here you need to describe the infrastructure to create, deliver and capture value. The key resources show which assets are indispensable in your business model.
Key Activities
This is to show requirements for your business model to work.
Key Partners
The key partners show who can help leverage your business model, since you want to own all your resources yourself, but cannot perform all key activities alone.
Cost Structure
Once you understand your business model infrastructure, you'll also have an idea of its cost structure.
References & Links
