The 9 Building Blocks of Your Business Model

Your business model should be one of the first things you map out when starting a company. To give you an idea of a timeline, you shouldn’t be doing this work during the ideation phase or even during the validation phase- but once you’ve nailed down the idea and confirmed that there is demand for your concept, you need to map out your business model.

A business model is different from a business plan. The business plan is a document you create when you’re looking to get funding and is based on the work you put into the business model. The business plan extends beyond the business model as it adds sections for the team, in-depth financials, and scale projections. The business model doesn’t include any of those elements.

The business model is comprised of just 9 parts. Completing the exercise of mapping out each part will give you a 360-degree view of your venture.

The 9 Building Blocks of Your Business Model

To be clear, I did not make up this diagram. It was developed by business strategy masterminds…