The Business Model Canvas (BMC) is a one-page map describing how your project creates, delivers and captures value. Its 9 blocks fit on a single sheet and, at launch, are far more useful than a long business plan.

The 9 blocks in brief

1. Customer segments: who are you creating value for?
2. Value proposition: what problem do you solve?
3. Channels: how do you reach the customer and deliver?
4. Customer relations: what kind of relationship do you maintain?
5. Revenue streams: how do you make money?
6. Key resources: what do you need?
7. Key activities: what do you actually have to do?
8. Key partners: who helps you (suppliers, allies)?
9. Cost structure: what costs the most?

You fill the canvas in pencil, with sticky notes, and you update it every time you learn something new. It is a living tool, not a frozen document.

Key takeaway: the Business Model Canvas describes the whole project on one page, in 9 blocks built around the value proposition. It is a living tool.