The Business Model Canvas is a strategic management and lean startup template for developing new or documenting existing business models. It is a visual chart with elements describing a firm's or product's value proposition, infrastructure, customers, and finances. It assists firms in aligning their activities by illustrating potential trade-offs.
A business model is not a business plan. Traditional business plans are written based on research and projected assumptions, but that are untested. It is not until the plan encounters its first customers that the plan’s assumptions are proven correct, or incorrect. The Business Model Canvas, developed by Alexander Osterwalder, and published with Yves Pigneur in the book “Business Model Generation,” represents a changing paradigm in entrepreneurship. The Osterwalder business model canvas takes nine building blocks that show visually the logic of how a company intends to make money. The nine building blocks cover the four main areas of a business: customers, offer, infrastructure and financial viability.
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