Make a living, breathing business plan with a business model canvas

December 4, 2012

Experienced entrepreneurs and advisors always say that a business plan should be a living, breathing document that you change whenever you change your business. But in reality, how many overworked entrepreneurs have the time to keep a document like this updated?

What if all of a startup’s core business strategies were condensed to a one-page canvas? Do you think it would be manageable to keep it updated?

During last Wednesday’s Entrepreneurship 101 lecture, Mark Zimmerman, MaRS chief information officer and a senior advisor with the MaRS ICE practice, spoke about Alexander Osterwalder’s business model canvas.

What is a business model canvas?

A business model canvas is a strategic management template for developing new or documenting existing business models. It is a visual chart with elements describing a firm’s value proposition, infrastructure, customers and finances.

Alexander Osterwalder spent nine years in research and practice, combining thousands of online comments from 470 co-authors in 45 countries, to develop this visual tool for entrepreneurs.

View this short view for an overview of the Business Model Canvas Explained.

Mark explained the elements of the business model canvas, using Nespresso as a case study to illustrate how this great tool can help your business progress.

Watch the video below and start developing a business model canvas for your own business today.

Other resources that might be helpful:

Entrepreneur’s Toolkit Workshop: Business Strategy Fundamentals
MaRS article:Business model design
Website: Business Model Generation
Blog: Business Model Alchemist by Alexander Osterwalder, the key author of Business Model Generation
iPad App: Business Model Toolbox ($29.99)

Want to connect?

Join the Entrepreneurship 101 LinkedIn Group.
Follow the conversation on Twitter: #ent101
Get updates on Vimeo.
Download the course schedule.

Forgot to take notes? Here is a sketch note shared by attendee Sacha Chua.

Entrepreneurship 101 by Sacha Chua

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  • http://twitter.com/analyticeye E Monier-Williams

    We had a team workshop on this topic and the tool was very helpful.

Lily Liu @ MaRS

Lily works as the Manager - Educational Programs at MaRS, providing entrepreneurs across Ontario with intensive entrepreneurship training.

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