An Alternative to the Business Plan
Entrepreneurs have been using business plans to plan, outline and communicate a business project and its implementation since the first decades of the 20th century.
By the mid 1990's, a new school of thought was developing around the idea of the importance of developing a business model as a way of describing how a company creates, delivers and captures value. The very word, model, begs us to think in a more visual way and to try to chart a business's value proposition, infrastructure, customers and finances.
The Business Model Canvas (BMC) was initially proposed in 2008 by Alexander Osterwalder, a Swiss business theorist, author and consultant. He was the first to establish a standard framework and vernacular for entrepreneurs to use when mapping out their scalability. Here's a diagram of what that business model canvas might look like: