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Tag Archives: business model canvas

An Interesting Trend: Business Plan vs Business Model Canvas

The creation of The Business Model Canvas tool was completed in 2010. If you are not familiar with it, you should be! There are many benefits to using a Business Model Canvas: it’s visual, it’s easy to change your business assumptions and it provides a common language for team members from diverse backgrounds to communicate with each other a... Continue reading

Startup Business Plan vs Business Model Canvas

Supporters of the Business Model Canvas (BMC) seem to have a tendency to quickly throw the idea of a business plan under a bus. But I don’t think it’s correct to think of the BMC and a business plan as opponents. Filling out your business model canvas involves going through the different sections and developing your hypotheses, or best guess... Continue reading

New Approaches to Enhance Innovation & Creativity

Nowadays, innovation is a popular word in our vocabulary. But a clear understanding of what this term means and why it’s so important in the present economy is needed before exploring alternatives to enhance it. Essentially, innovation is the usage of new ideas to develop and implement new processes, products, services, or even business models... Continue reading

Business Plan vs Business Model Canvas

Why do most business owners create a business plan?  The vast majority reluctantly prepare one as a requirement to get financing. Is a business plan a good management tool?  I don’t think so. I will agree that preparing a business plan can help a business owner think strategically about their business. A business plan will also provide some s... Continue reading