What is a business model canvas?

Created by Alexander Osterwalder, the canvas is popular because it forces founders and teams to see an entire business model at a glance, rather than buried across a lengthy written business plan.

The nine building blocks

1. Customer Segments — who you're serving
2. Value Propositions — what problem you solve for them
3. Channels — how you reach customers
4. Customer Relationships — how you interact with them
5. Revenue Streams — how the business makes money
6. Key Resources — what you need to deliver the value proposition
7. Key Activities — what you must do well
8. Key Partnerships — who helps you operate
9. Cost Structure — the major costs involved

Teams often sketch it on a whiteboard or sticky notes early in planning, then revisit and revise it as they learn more about customers and the market.