Business Model Canvas – A Practical Tool

business model canvasThis was a fun week with my college entrepreneurship students. I taught the business model canvas, and so I had them create business model canvases in teams for the ventures that they have conceptualized.

This exercise is not just a fun exercise or teaching method but can surely aid every entrepreneur out there.  I can tell you that as an educator it helps to view things on paper and constructing a huge business model canvas is a great help. I have my students use the post its to make notes and changes easily as it allows creativity without commitment and as any entrepreneurs knows one’s mind is constantly swirling.

What of disruption? This practical application of the business model canvas also allows the entrepreneur to scrutinize the components of that model while viewing the interrelationships among them. Then the entrepreneur or learner can focus on one aspect of the business model for disruption such as distribution and see how the disruption of that component may affect the others such as how will it affect customer relationships or key resources.

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