Benefits of the Canvas Model

Starting your own business can be a monumental task, but no one said it would be easy. First, you need to register your business, create a website, calculate your budget, create a marketing plan, etc.

You also need to create a business plan and a business model . All this information can be overwhelming, but there are tools that can make this process easier for you.

There are numerous business models you can implement, and all of them can be easily and clearly displayed through the Business Model Canvas . This is a visual model for designing, developing, and testing business models.

If you want to know a little more about what the Canvas model is, we invite you to read our entry that deals with the topic in depth. In this article we will focus on the benefits of establishing the Canvas model for your business. (benefits of the canvas model)

This model is not just for businesses that are just starting out, you can rethink your business model at any time to know how to keep moving forward and succeed.

Canvas offers a simple, intuitive and flexible way to develop your business model. From a single view of the Canvas model you will have general information about the business: offer, infrastructure, market and finances.

But now, we are going to show you the benefits of the Canvas model , which you must be very interested in knowing.

What are the benefits of the Canvas Model?

This business model is very versatile, so the benefits it generates are many. However, in this article we want to focus and show you three benefits of the Canvas model, significant for anyone interested in applying it to their business plan:

1. Benefits of the Canvas model: Focus

The Canvas approach is designed to guide thinking through all the key components or building blocks for designing a business model.

This means that each aspect is related to the others, as functions, activities and processes all relate to each other. This allows you to think about the business model in a systematic and formal way, ensuring that each area is covered and a more complete picture of the business can be produced.

The Canvas model focuses on the strategic elements of the business that matter most and that will have the greatest impact on driving growth. Its visual nature makes it easier to understand in order to visualize the overall image of the business, and therefore, detect those areas with the greatest strengths and identify the weaknesses depending on the contributions. That is why we consider focus as the number one benefit of the Canvas model.

2. Benefits of the Canvas model: Speed ​​and agility

The Canvas model is focused on quality rather than quantity. It is not about filling a box, making pages and pages, but rather determining key points to create a building block.

The construction of this model is focused on simplicity and therefore it is characterized by its speed to start developing. It is a document that must be tested and reworked over time, to update it depending on changes in the business and market.

What this means is that our model is a set of hypotheses that need to be tested and validated with real customers. For this reason, the Canvas model is fluid and progressive, which makes it a significant benefit of the Canvas model.

3. Benefits of the Canvas model: Common language

Canvas creates a common reference and language to articulate, share, and gain feedback on the business model and its components.

It is intuitive in nature, meaning it requires no decoding and is easy to interpret and consume. It is also compatible with all teams, and can be shared with advisors, investors, and partners who all have access.

This is an excellent option to discover, build, ratify and develop commercial business models. There are other elements to take into account but which Canvas does not explicitly cover, these are:

✅ The level and nature of the competition.

✅ Roles and responsibilities.

✅ Core competencies and capabilities.

✅ Definition of objectives that are measurable.