STARTUPS

How to Develop a Business Model for Your Startup

A step-by-step guide for creating a business model canvas

Image by Alexas_Fotos from Pixabay

Recently I wrote a piece about a 40-year old business model developed by a revered business expert, Michael Porter. You can read this article below.

Is It Time to Reconstruct Porter’s Five Forces?

Porter’s five forces model is a tool that I use today along with another contemporary model — the Business Model Canvas (BMC).

This article is about the BMC, a practical walkthrough with examples.

The Business Model Canvas

The BMC was created by Alexander Osterwalder and Yves Pigneur. Designed to be an innovative tool for leadership, strategy management, and entrepreneurs. The tool visualizes all the building blocks of a new business venture.

A business model describes how an organization creates, captures, and delivers value.