Sketch your business model
How do you turn a product or service into profit? It’s time to create a business model.
In this module, you’ll create a flexible framework for operating your business or social enterprise.
You’ll learn how to:
- Describe how your venture will sustain itself financially
- Create a one-page business plan using a Lean Business Model Canvas
By the end of this module, you should have a hypothetical picture of how your venture will operate. You’ll then be ready to start pitching your business idea to potential funders.
How to create a Lean Business Model Canvas
Why you need a business model
Create a lean business model canvas
Take entrepreneurial action
(Required activity) Create a one-page plan for your venture. Use either:
- Lean Business Model Canvas template (pdf)
- Social Impact Canvas template (Standford Social Entrepreneurship Hub)
Reflection Questions
- Describe the process of working through your Canvas. Which parts did you find easiest to complete? Which parts did you find toughest to complete?
- Which parts of your Canvas do you think are the strongest? Which do you think are the weakest?
- How do you plan to start testing your Canvas?
Additional resources
- Guidance on how to create a Social Impact Canvas (Standford Social Entrepreneurship Hub)
- Why business models matter (Harvard Business Review article)
- How to start a business budget (Inc.com article)
Capture your business model in 20 minutes — lean canvas
» UP NEXT: Module 4 — Pitch your business idea