Build a business plan using the Canvas model

A business plan is a design diagram that helps develop business ideas based on the business’s optimal cost and available resources.

Developed by Dr. Alexander Osterwalder and Professor Yves Pigneur from the University of Lausanne, the Canvas model has long been considered the complete framework for any business strategy.

Thanks to being visually represented on just one side of the paper, the Canvas model helps to minimize redundant media content to provide a more holistic view when building strategy.

From there, it helps internal enterprises properly assess their capabilities, correctly identify the business’s potential, and, most importantly, develop more business ideas aligned with the brand’s vision and mission. The Canvas model includes the following elements:

Main partner
Main resource
Main activities
Value statement
Distribution channel
Relationship with customers
Target customer analysis
Cost structure
Revenue stream.

In which partner governs the main activities of the brand, these activities determine the resources for the brand in the future. Finally, it affects the cost structure and the business’s revenue stream.

Likewise, analyzing target customers helps brands be more proactive when building relationships with customers. From there, grasp the psychology and the problems that target customers are facing to declare value and create distribution channels to match the consumption behavior of potential customers.