6 Problems with the Business Model Canvas
The entrepreneur’s favourite tool is far from perfect
The Business Model Canvas (as shown above and improved based on this article’s recommendations) is famously the “ultimate” tool for business transformation, having been taught in business schools from the US to India for the past 15 years.
The “classical” canvas one finds on Google or Wikipedia is however not without its faults, which have to be taken into account when using this tool to innovate or create a business model. Without being aware of what the framework is missing, an inexperienced entrepreneur could make a major tactical mistake, or miss out on specific advantages within their industry or environment. To avoid this, below are a few pointers to keep in mind when creating a business model canvas.
1. Strategy is not taken into account
Consulting companies have the habit of making young graduates do case study interviews to assess their abilities to become strategy consultants. One of the very first things we look for in a candidate is if they ask “what is the client’s “definition of success”?”.
There is a reason things are done this way : by answering this before anything else, we are able to better inform and frame later discussions around a…
