{"id":7964,"date":"2022-03-15T12:55:01","date_gmt":"2022-03-15T12:55:01","guid":{"rendered":"https:\/\/www.sage.com\/en-ie\/blog\/?p=7964"},"modified":"2022-04-28T12:31:12","modified_gmt":"2022-04-28T11:31:12","slug":"business-model-canvas","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-ie\/blog\/business-model-canvas\/","title":{"rendered":"Business Model Canvas: How to use the 1 page business plan"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-ie\/blog\/category\/strategy-legal-operations\/\" class=\"entry-header__link\">Strategy, Legal &amp; Operations<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tBusiness Model Canvas: How to use the 1 page business plan\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2022-03-15T12:55:01+00:00\">15 March, 2022<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"Business Model Canvas: How to use the 1 page business plan\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-ie\/blog\/business-model-canvas\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n<\/header>\n\n\n<div class=\"wp-block-post-author\">\n\t\t\t<div class=\"co-authors\">\n\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-ie\/blog\/author\/staceymcintosh\/\">\n\t\t\t\t<img decoding=\"async\" alt=\"\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2018\/11\/Stacey-McIntosh-350-1.jpg\" class=\"entry-author__image\" height=\"40\" width=\"40\" fetchpriority=\"high\" \/>\t\t\t\t<span class=\"entry-author__name\">Stacey McIntosh<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t<\/div>\n\t\t<\/div>\n\n\n\r\n<p class=\"\">The phrase \u201cproper planning prevents poor performance\u201d is highly applicable to businesses of all sizes.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Whether you are an entrepreneur starting a new business from scratch or a blue chip multinational corporation, it\u2019s critical that you have a well-documented plan in place.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Your plan needs to outlines the strategies, tactics and resulting actions that will enable you to hit a set of defined objectives.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">In this article, we talk about the importance of having a business plan and why a Business Model Canvas provides a simple way for you to put your plans together.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Here\u2019s what we cover:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li><a href=\"#why\">Why a business plan is important<\/a><\/li>\r\n<li><a href=\"#what\">What is a Business Model Canvas?<\/a><\/li>\r\n<li><a href=\"#benefits\">Benefits of the Business Model Canvas<\/a><\/li>\r\n<li><a href=\"#creating\">Creating a Business Model Canvas<\/a><\/li>\r\n<li><a href=\"#final\">Final thoughts on the Business Model Canvas<\/a><\/li>\r\n<\/ul>\r\n<div class=\"single-cta\">\n\t<a\n\t\tclass=\"button button--primary gate-447a5640-736a-45fc-8c5c-9270251aa3ef\"\n\t\trole=\"button\"\n\t\tdata-button-location=\"content_area\"\n\t\thref=\"#gate-447a5640-736a-45fc-8c5c-9270251aa3ef\"\n\t>Download your free copy of How to start your business<\/a>\n<\/div>\n\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\" id=\"why\">Why a business plan is important<\/h2>\r\n\r\n\r\n\r\n<p class=\"\">A business plan should lay the foundations for success.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">It can be vital for <a href=\"https:\/\/www.sage.com\/en-ie\/blog\/create-a-business-plan-wow-investors\/\">securing funding<\/a> and should be a living document that evolves with the business and the environmental factors that will impact operations and performance.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">However, one of the most prevalent reasons for organisations not having a fully documented business plan is the time it takes to create and the sheer volume of information that is required.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">This is where the Business Model Canvas can benefit your organisation.<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\" id=\"what\"><strong>What is a Business Model Canvas?<\/strong><\/h2>\r\n\r\n\r\n\r\n<p class=\"\">Put simply, the Business Model Canvas is a one page business plan.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Initially developed by Swiss business theorist, author and consultant Alexander Osterwalder, this strategic planning tool is used by many organisations across the globe.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Essentially, it uses a template that can help your business simplify its planning in a highly visual way.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">It can help you create a business plan that:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>Builds from your value proposition<\/li>\r\n<li>Outlines how your activities need to align to achieve your objectives<\/li>\r\n<li>Illustrates the potential trade offs that may be required to meet goals.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\" id=\"benefits\"><strong>Benefits of the Business Model Canvas<\/strong><\/h2>\r\n\r\n\r\n\r\n<p class=\"\">There are many advantages to using the Business Model Canvas as a planning tool to supplement a full business plan.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Its use isn\u2019t restricted to creating the entire plan for a company either.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">A study by business strategy company Strategyzer found that 21% of the time, it is used to develop a new product or service.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Here are three benefits you\u2019ll get by using the Business Model Canvas for planning:<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\">1. <strong>Speed<\/strong><\/h3>\r\n\r\n\r\n\r\n<p class=\"\">It\u2019s obviously a lot faster to compile a plan on a single sheet than it is a lengthy written document.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Additionally, using the Business Model Canvas to plan potential strategies can also allow you to quickly test the viability of an approach.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><strong>2. Usability<\/strong><\/h3>\r\n\r\n\r\n\r\n<p class=\"\">The simplicity of the model allows you to focus on what\u2019s really going to drive performance and not get too bogged down with non-essential activities.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">It also helps different teams and departments easily understand how your company operates, and where their work fits in to the overall model and strategy.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Furthermore, it can also be adapted for businesses that don\u2019t have revenue as the primary goal.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\">3. <strong>Collaboration<\/strong><\/h3>\r\n\r\n\r\n\r\n<p class=\"\">As you\u2019ll soon discover, the key elements of a business that are included in the Business Model Canvas are either the responsibility of separate teams or require people from different teams to work together to be a success.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Therefore, a planning session that brings the various teams together in a focused way can help ensure that everyone is aligned on achieving the overarching business objectives.<\/p>\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\" id=\"creating\"><strong>Creating a Business Model Canvas<\/strong><\/h2>\r\n\r\n\r\n\r\n<p class=\"\">As we\u2019ve shown, using this simple business plan format can be a quick and collaborative process.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Therefore, when creating one, it may be easier to get the relevant people in your business together for a planning session, which shouldn\u2019t last as long as some planning meetings do.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">(Or if you\u2019re running your business by yourself, this is something you can do alone.)<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Given the simple visual layout of the Business Model Canvas, a good way to run the session would be to either use a large printout of the template, draw it out on a whiteboard or project it on to a screen.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">You can then use Post-it notes or something similar that allows you to quickly add, move, change or remove ideas and information for each section.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">Our handy infographic guide, which can be found below (click on it for a pdf version), provides more information about how you should go about filling the template in.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">However, in the session, you should have people who have the knowledge and can provide information on the following areas<strong>:<\/strong><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li><strong>Key partners:<\/strong> These are the partners required so you can do business.<\/li>\r\n<li><strong>Key activities:<\/strong> Here\u2019s what your business does every day in order to succeed.<\/li>\r\n<li><strong>Key resources: <\/strong>This covers the people, knowledge and money required to successfully run your business.<\/li>\r\n<li><strong>Value proposition:<\/strong> Highlight your products and services, and how they\u2019ll benefit your customers.<\/li>\r\n<li><strong>Customer relationships:<\/strong> Detail how you\u2019ll maintain relationships with your customers.<\/li>\r\n<li><strong>Channels: <\/strong>This part covers how people will hear about your business.<\/li>\r\n<li><strong>Customer segments: <\/strong>Talk about your different customer groups here.<\/li>\r\n<li><strong>Cost structure:<\/strong> Cover your key costs here; do this by looking at your resources and activities.<\/li>\r\n<li><strong>Revenue streams: <\/strong>This covers how your business will make money, and where it\u2019ll come from.<\/li>\r\n<\/ul>\r\n<p><a href=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2022\/03\/business-model-canvas.pdf\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7963 size-full\" src=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2022\/03\/business-model-canvas-scaled.jpg\" alt=\"business model canvas\" width=\"637\" height=\"2560\" srcset=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2022\/03\/business-model-canvas-scaled.jpg 637w, https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2022\/03\/business-model-canvas-191x768.jpg 191w, https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2022\/03\/business-model-canvas-768x3085.jpg 768w, https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2022\/03\/business-model-canvas-382x1536.jpg 382w\" sizes=\"auto, (max-width: 637px) 100vw, 637px\" \/><\/a><\/p>\r\n\r\n\r\n\r\n\r\n\r\n<h2 class=\"wp-block-heading\" id=\"final\">Final thoughts on the Business Model Canvas<\/h2>\r\n\r\n\r\n\r\n<p class=\"\">The Business Model Canvas is a great way to put a simple but effective plan together for your company.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">And having a plan on one page means you can quickly view what\u2019s needed for your business to run.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">However, don\u2019t forget that you should still have a full business plan in place, especially if you are looking to secure funding.<\/p>\r\n\r\n\r\n\r\n<p class=\"\">But the Business Model Canvas can supplement that to help you and your business be a success.<\/p>\r\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">How to start your business <\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Want to start your own business but not sure how to proceed? Read this guide for tips on creating a business plan, working out who your customers will be and much more.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-447a5640-736a-45fc-8c5c-9270251aa3ef\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Download your free guide<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1064\" height=\"810\" src=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2017\/12\/GettyImages-525498442_super-1-1064x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2017\/12\/GettyImages-525498442_super-1-1064x810.jpg 1064w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\r\n\r\n\r\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Join 1.5 million subscribers and get the best business admin strategies and tactics, as well as actionable advice to help your company thrive, in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-53abbdcc-410c-4c8c-bf97-ca5c6982eebd\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe now<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"999\" height=\"666\" src=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2021\/04\/z.5E3A0481_All-Uses.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2021\/04\/z.5E3A0481_All-Uses.jpg 999w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Using the Business Model Canvas can simplify your business planning. Find out how to use this strategic one page business plan.<\/p>\n","protected":false},"author":346,"featured_media":8433,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"footnotes":""},"categories":[165],"tags":[260,132],"business_type":[5],"lilypad":[],"context":[],"industry":[],"persona":[232],"imagine_tag":[330,230,234],"coauthors":[394],"class_list":["post-7964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategy-legal-operations","tag-business-planning","tag-start-business","business_type-small-business"],"sage_meta":{"region":"en-ie","author_name":"Stacey McIntosh","featured_image":"https:\/\/www.sage.com\/en-ie\/blog\/wp-content\/uploads\/sites\/13\/2022\/04\/GettyImages-1279589946.jpg","imagine_tags":{"330":"Business planning","230":"Small business","234":"Start-up business"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice Ireland","distributor_original_site_url":"https:\/\/www.sage.com\/en-ie\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/posts\/7964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/users\/346"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/comments?post=7964"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/posts\/7964\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/media\/8433"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/media?parent=7964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/categories?post=7964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/tags?post=7964"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/business_type?post=7964"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/lilypad?post=7964"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/context?post=7964"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/industry?post=7964"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/persona?post=7964"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/imagine_tag?post=7964"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-ie\/blog\/api\/wp\/v2\/coauthors?post=7964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}