Imagine bringing a complete business plan to life on a single page…
Meet the Business Model Canvas (BMC).
Created by Alexander Osterwalder, Yves Pigneur, and Alan Smith, the Business Model.
Canvas is a lean visual alternative to the lengthy business plan.
BMCs have turned conventional wisdom about entrepreneurship on its head, offering entrepreneurs a simple snapshot of their businesses that puts the focus on value creation for clients and communities.
Inspired by tech industry start-ups, the BMC visualization emulates the ethic of failing fast and continually learning. In an industry landscape where disruptive innovation lies around every corner, businesses can use the BMC as a strategic tool to anticipate and adapt quickly to changing circumstances.
Here are four ways BMCs can help arts enterprises —
BMCs structure strategic conversations about a business.
The model contains nine components that each pose a series of questions about the workings of a business. The answers to these questions can structure a strategic conversation about the present health and future business direction.
BMCs provide a solid rationale for what value creation means.
As co-creators Alexander Osterwalder, Yves Pigneur, and Alan Smith remark, “A business model describes the rationale of how an organization creates, delivers, and captures value.” The model’s most significant contribution is that it helps entrepreneurs focus on value creation as the heart of all products, services, and offerings.
BMCs see innovation in the context of flow.
Innovation is not only having a good idea and a result but also an implementation that sustains the full force of this idea’s potential. The rise of tech startups in the early 21st century introduced this notion of intelligent methodology, which showed the world the power of a lean business that favors experimentation over elaborate planning.
BMCs help established and new businesses alike.
Business Model Canvases play a crucial role in helping successful multinational corporations such as GE, P&G, and Nestlé to manage strategy and create new growth engines. But BMCs are just as valuable for small start-ups, nonprofits, and arts initiatives by bringing their business models into clear focus.
Learn more about the Business Model Canvas —
Have you used the Business Model Canvas with an Arts Enterprise? Let us know how.
About Alexander Osterwalder
Alexandre Osterwalder is cofounder of Strategyzer.com, a company that builds practical tools for business strategy and innovation. Together with Yves Pigneur, he invented the Business Model Canvas and co-authored the international bestsellers Business Model Generation and Value Proposition Design.
About Yves Pigneur
Yves Pigneur is a Belgian computer scientist and Professor of Management Information Systems at the University of Lausanne since 1984. He is known for his work on the business model canvas with Alexander Osterwalder.
About Alan Smith
Alan Smith is the VP of Venture Development at FutureSight and Co-Founder at Strategyzer. He was the Owner of The Movement.
Sources:
https://hbr.org/2013/05/a-better-way-to-think-about-yo
https://hbr.org/2013/05/why-the-lean-start-up-changes-everything
https://hbr.org/2013/05/why-the-lean-start-up-changes-everything
