Image of the Business Model Canvas format

Business Model Canvas

As your social enterprise idea becomes more clear and you start to test it, you’ll also need to keep in mind your business model.

A good way to keep your business model front and center in your mind is by using a Business Model Canvas. This simple, one-page sheet asks you key questions like what’s your revenue stream, what are the key partnerships you’ll need to forge, and what resources are vital to your operation. You might even use a Business Model Canvas several times in the process, as elements are bound to change as you refine your idea and move toward implementing it.

Steps

1) Read Business Model Canvas: Key Definitions and watch the video given in the resources below. These will guide you through the different sections of the Business Model Canvas.

2) Print out a Business Model Canvas.

3) Sit down and start to fill out the sections of the Business Model Canvas. When you fill it out the first time, expect for there to be holes. It’s okay not to know exactly how everything will work.

4) You may need to leave some columns blank, do research or reflect on them, and then come back and fill them out.

5) When you’re done, post the Business Model Canvas in your workspace. Remember, this is version 1 and it is full of assumptions. Go test those assumptions in the outside world and revise the Canvas with what you learned.

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Social Enterprise: Turning Ideas into Action

Middlesex University Business School

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