The Business model canvas (BMC) is the new standard for rapid business planning. Unlike a traditional business plan, the BMC is a one-page document that addresses the most important elements to launch your startup and get paid customers - fast. This framework (in an editable Microsoft Word format) lays out the fundamental elements that help you make money while delivering your unique value proposition.
 
Benefits of the Business Model Canvas:
 
1. Focussed:
Enterprises need a definition of how to get their products to their customers and the business model canvas helps you define them. It also gives you the competitive edge to launch a profitable business not only through product innovation but also through designing your business correctly.
 
2. Succinct:
It helps you document your startup journey so you can easily modify it as you go along. The business model is a blueprint that defines your business initially and you later expand on it. It is useful for easy communication with your team, investors, partners as well as employees to come on board with your vision.
 
3. Target customer needs:
The BMC forces you to think beyond your product. When you envision how you will sell your product, what type of resources you need as well the different customer segments you can serve, the business becomes lucid. Documenting it gives you the clarity when you talk to your customers.
 
4. Reduces the risk of failure:
The BMC helps you define the the execution steps required to take your idea to market. Connecting the dots between your value proposition + customer segments + revenue streams, is a good input to your marketing strategy, positioning statement as well as your Sales strategy.
 
5. A proven framework that works:
The BMC is a tried and tested methodology not only for startups but also for innovating in large enterprises.