Business Model Canvas

woman placing sticky notes on wall

Business Model Canvas (BMC) is a strategic tool used by Product Managers to visualize, analyze, and design a company's business model. It is a one-page framework that enables the team to identify key elements of a business model and how they interact with each other. The following are the components of the BMC:

1. Customer Segments: This section defines the target audience for the product or service.

2. Value Proposition: This section outlines the unique value that the product or service provides to the customer.

3. Channels: This section identifies the channels through which the product or service will be delivered to the customer.

4. Customer Relationships: This section describes the type of relationship that the company will have with its customers.

5. Revenue Streams: This section outlines the sources of revenue for the company.

6. Key Resources: This section identifies the resources required to create and deliver the product or service.

7. Key Activities: This section outlines the activities required to create and deliver the product or service.

8. Key Partnerships: This section identifies the strategic partnerships required to create and deliver the product or service.

9. Cost Structure: This section outlines the costs associated with creating and delivering the product or service.

The BMC helps Product Managers to understand the interdependencies between different components of the business model and make informed decisions about the product or service. It also helps in identifying potential gaps and risks in the business model and devising strategies to address them. The BMC is a dynamic tool that can be updated and modified as the business evolves.