Business Model Canvas – Start-up Business

One of the privileges I have as a business consultant is working alongside entrepreneurs in the early stages of business creation. More often than not, people seek out complicated strategies, thinking they are the only way to achieve great success. However, many times, the simplest, most straight-forward path is more likely to be the most successful. In other words, utilizing the K.I.S.S. principle provides an efficient, uncomplicated direction to achieve your goals. The BUILD, MEASURE, LEARN philosophy is one I highly recommend and subscribe to myself. It teaches the entrepreneur to BUILD a proto-type, MEASURE its efficacy with customers, which then allows you to LEARN by adjusting your next proto-type within the confines of the customer feedback. A continuous, never-ending loop to continuously update your minimum viable product. One of the most effective ways of visualizing this is to begin filling in the individual sections of a Business Model Canvas (BMC). The BMC is meant to be temporary, in the sense that you will continuously modify it as you pivot with the increasing knowledge context of your product and/or service. Do yourself a favor, write in pencil…