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There are nine main building blocks in the business model canvas template: Key Partners. Key Activities. Key Resources. Value Propositions. Customer Relationships. Channels. Customer Segments. Cost Structure.

Even so, I recommend that when creating your first BMC you follow the steps below: Choosing customer segments. ... Define the value proposition. ... Choosing channels. ... Establishing the customer relationship. ... Determine revenue sources. ... Determine key resources. ... Establish the core activities. ... Choose key partners.

The BMC is action-oriented, encouraging businesses to identify activities and initiatives to improve their business model to drive business growth. A business model canvas provides a structured approach for businesses to explore possibilities and experiment with new ideas.

The template starts with nine main color-coded segments to structure your business model canvas: Key Partners. Key Activities. Value Proposition. Customer Relationships. Customer Segments. Channels. Key Resources. Cost Structure.

The Business Model Canvas consists of nine essential parts: Customer Segments, Value Proposition, Revenue Streams, Channels, Customer Relationships, Key Activities, Key Resources, Key Partners, and Cost Structure.

Key Partners are relationships that a company have with other entities that help the business model to work (for instance, suppliers, manufacturers or advisors). These partnerships are a helping hand needed to succeed in areas that would be inefficient for the company to take care by itself.

The Business Model Canvas was developed by Alex Osterwald and Yves Pigneur, in collaboration with a community of business professionals at the Business Model Innovation Hub.