How to Use a Business Model Canvas to Launch a Technology Startup. Part 1

A Business Model Canvas (BMC) is a concept developed by business theorist Alexander Osterwalder in 2004 as an alternative to complicated business plans. In 2020, the approach is widely used by both startups and large global corporations at the strategic management level.

Why is the tool so popular? A Business Model Canvas template is simple, highly standardized, and easy to comprehend. It requires minimal time to fill in the template and you can use any type of tool to work on BMC including Google Documents, paper, or advanced instruments like Strategyzer and Canvanizer.

Read this article to learn how to define your business concept using the BMC approach and evaluate its potential.

What Is a Business Model Canvas?

Companies should focus on one of three value disciplines: operational excellence, product leadership, or customer intimacy…

Alexander Osterwalder

A Business Model Canvas is an innovative yet simple tool to work with new business ideas and concepts with or without a team.

The original idea of BMC belongs to Alexander Osterwalder who is a Swiss business theorist, author, and entrepreneur.