How to Coordinate a Business Model Canvas Workshop?
The BMC methodology is flexible, with no strict rules for mapping, but guidelines help get started.
- Time: Limit the session to up to 2.5 hours for concentrated work.
- Team: All concerned people should be present. Ideally, this includes stakeholders from across the business, with representation from product leadership, product management, marketing, engineering, and sales.
- Materials:
- In-person: A large poster (B0 format) or whiteboard, sticky notes of various colors, markers, and a camera to capture the result.
- Remote: An online BMC template (with or without collaborative features, as one person can log ideas), a backup plan for tech failure (screen recording, screenshots), and pen and paper for individual note-taking.
Key Takeaways
- Product management is a strategic role that bridges customer needs, business goals, and technical feasibility.
- Product managers are responsible for a product’s lifecycle, from ideation to launch and beyond.
- They work closely with cross-functional teams to ensure product success.
- Key responsibilities include defining product strategy, prioritizing features, and conducting market research.
- Effective product management drives innovation and aligns products with business growth.
Tips for Filling the Business Model Canvas
- Don’t write directly on the Canvas: Use sticky notes for easy additions, movements, or changes.
- One idea per note: Avoid bullet lists; expand to a larger surface or be more concise if space is limited.
- Color code: Separate different target audiences by color, and use corresponding colors for their value propositions, channels, and relationships.
- Use images: Incorporate emojis, simple illustrations, or photos to enhance visual understanding.
- Stay minimalist: Focus on the strategic overview, not operational tasks, at this stage.
Benefits of Using the Business Model Canvas
The BMC offers several key advantages over traditional methods:
- Visible Connections: Its design directly illustrates how elements are connected, providing a clear understanding of the impact building blocks have on each other. Following a specific order when filling the canvas helps in this regard.
- Changing and Advancing: Unlike heavy, static business plans, the BMC is a living document meant to be constantly changing and evolving. This allows for immediate decisions and on-the-go adjustments.
- Value Propositions at the Core: The Value Proposition is strategically placed at the center of the canvas, acting as the backbone that separates the “front stage” and “backstage” of your business.
- Speaking the Same Language: The BMC fosters transparent communication within teams by providing common definitions and a shared visual reference for ideas and adjustments.
What the BMC Excludes and Why It Should Not Bother You
Some entrepreneurs argue that the BMC excludes key factors like competitors or an organization’s mission and priorities. However, this is by design. The BMC’s main purpose is to visually represent how you intend to build or develop a successful business, acting as a simple scheme to define your pathway in a constantly changing market and provide a concise overview of how operational processes link up. External impacts are considered outcomes, not building blocks, and the model encourages adjusting internal processes when complications arise. The BMC is not a “silver bullet” but a tool that requires imagination and creativity; it can be combined with other tools like the Value Proposition Canvas or adaptations like Lean Canvas.