Module 2: Your Business Model

Introduction The Business Model Canvas (BMC) developed by Osterwalder provides a valuable framework for new venture creation. However, applying the BMC specifically to startups requires adapting some standard element definitions. In this article, I offer my interpretations of the BMC tailored to the startup environment. My perspective applies a more behavioral lens, focusing on understanding … Continue reading Key Components of the Business Model Canvas: Exploring the Building Blocks

Over the past three blog posts, I have been exploring the application of the business model canvas to new venture realization. The focus is on startup iterations that facilitate the formulation of early assumptions about how your enterprise will provide value to the customer. To date, we have reviewed four BMC elements, Customer Segments, Value … Continue reading Provide Customer Value Repeatedly with Well-Designed Startup Operations

In the last post, we spent time looking at the first two BMC elements - Customer Segments and Value Proposition - as your starting point. Identifying your customer's needs, pain points, and desired outcomes are essential first steps to developing a successful venture. The alignment of these two elements establishes the focal point of the … Continue reading Consider Early Customer Engagement Strategies in Business Model Canvas

In the last post, I made the case that a startup has many good reasons to develop a formal business model early in the process. The reasons are plentiful, but a core reason is that it provides a way for the founder to investigate and, hopefully, validate the assumptions on how the enterprise repeatedly offers … Continue reading Business Model Canvas: Where to Start?

At Columbia Business School, many of us have adopted Alexander Osterwalder and Yves Pigneur's Business Model Canvas (BMC) as a template to guide students through the business model development process. Over the past few years, as we teach and discuss how best to apply the BMC to numerous new venture ideas, we have developed tools and approaches … Continue reading Is the Business Model Canvas still relevant for Start Ups?