THE BUSINESS MODEL CANVAS
– the artistry of business innovation.
A well structured and finely run business model canvassing [BMC] session is a beautiful thing to participate in. Delivering game-changing, dare we say disruptive, new ways for businesses to approach their market.
BMC represents a very sharp and powerful arrow in a marketers product development quiver.
While the canvas itself has served us many useful purposes, from mapping a complete organisational process on a page, to quickly aligning staff and management on business unit functions, or to simply identify and illustrate where gaps occur in a business…
We find it’s core purpose of ‘business model generation’ by far its most powerful and appealing.
The flexibility and divergent imagineering businesses are able to achieve with the BMC, by rapidly prototyping a vast number of new businesses approaches as minimally viable test models, places it beyond compare.
For a long time seen as a great tool for startups wanting to take a different more potent approach to a conventional market [think the Uber business model Vs the taxi business model], its strength and value to established businesses – provided it is correctly used – is vastly more powerful. Both to create or combat disruptive play in the market [and perhaps explaining why MasterCard, GE, 3M, Intel, Microsoft and so many others use it].
In fact we have often seen that by reframing the way a client brings a new product to market and the models supporting its transaction represent far greater efficiency and profit to the business than the sales of the new product itself.
Next time you plan to create and release a new service or product to your market spend some time with the BMC, correctly implemented, it is unlikely that there will ever be a more simple and valuable tool.
If you have any questions relating to this blog article or would like some more information on LOCKE pty ltd, our services or specific products we have created to assist with marketing + brand + strategy initiatives, please give us a call or drop us a line – our initial consultation is free of cost and obligations.
Business Hours: 7:30am – 7:30pm Mon – Fri [weekends as required].
LOCKE pty ltd: 111 Flinders St, SURRY HILLS NSW 2010, AUSTRALIA