The Business Model Canvas (BMC) is a set of key dimensions used by startups to track the definition of their offering. The canvas is updated regularly after running tests with customers.
- Print a blank BMC template.
- Use sticky notes to brainstorm five or more elements for each area of the canvas.
- Step back with your team and discuss the most important elements. Debate which ones should be kept or eliminated and why.
- Note what you haven’t thought much about.
- Use this discussion to determine the next actions your team will take to test hypotheses or get other feedback from customers.
- After completing each experiment or activity, update the BMC with what you’ve learned and determine your next experiment.
- Share your business model canvas with leadership and ask for their advice and suggestions.