The Business Model Canvas (BMC) by Alexander Osterwalder maps your entire business on one page with 9 interconnected blocks: Customer Segments, Value Propositions, Channels, Customer Relationships, Revenue Streams, Key Resources, Key Activities, Key Partnerships, and Cost Structure.
The BMC is a living document. Update it monthly. Version 1 will look nothing like version 10.
Key Takeaways
- BMC maps your entire business on one page with 9 blocks.
- Start from Customer Segments and Value Propositions.
- Revenue Streams and Cost Structure must be coherent.
- Update monthly — it's a living document.