The Basics
The canvas is a visual template that outlines the development of business models and describes how organizations create and deliver value. The business model canvas consists of nine elements that are crucial to consider when striving for success within an organization: customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partners and cost structure.
Why It Matters
The elements of the business model canvas account for sources of the functionality of an organization including customers, finances and marketing. It is natural for entrepreneurs to subconsciously fail to ask themselves questions such as “What needs is this product or organization satisfying?”, What market does this product serve?” or “What costs are necessary to successfully grow the business?”, but this model allows entrepreneurs to organize their thoughts and ideas and focus in on one aspect of their business at a time. The business model canvas serves as a critical tool for entrepreneurs and leads to prime productivity within organizations.
Media Entrepreneurship 