The Business Model Canvas Explained

As you look to launch your business, you will likely find mentors, bankers, and other resources providers that will ask you for a traditional business plan.

By utilizing the Business Model Canvas and customer discovery methods, you will have something far superior than just a business plan full of assumptions and guesses. You will have a tested and validated business plan with data that supports your idea!

Please watch this short video to better understand the concepts and advantages of using a Business Model Canvas.

Definition of customer segment and value proposition:

Customer Segment:

“A defined group of people who share the same problem or passion and speak the same language” – from The Lean Entrepreneur by Brant Cooper and Patrick Vlaskovitz

Value Proposition:

“A Value Proposition creates value for a Customer Segment through a distinct mix of elements catering to that segment’s needs. Values may be quantitative (e.g. price, speed of service) or qualitative ( e.g. design, customer experience).” – from Business Model Generation by Alexander Osterwalder

We are soon launching a Online Coaching Program to help you to implement some of the best methods and tool for entrepreneurship including the Business Model Canvas. For more information, please send an email: with the subject ‘Online Coaching’ 

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Author: Paul Foster
Paul's life’s purpose is to bring more cash, freedom and happiness to independent business owners. Paul wants to learn about your toughest business challenges and frustrations so he can help you tackle them.