A business model canvas is a living document because no business model is set in stone. As you build your business, you'll recognize opportunities and problems that require you to adapt your business model. Take time regularly to dive into your business model and look for ways to improve and adjust it based on what you are learning. Keep your old copies of your business models because it will help you track your progress towards finding problem-solution fit.
Remember, the only goal of a startup is to find a business model that works. You can't expect that your first business model is going to be perfect. Focus on developing the skill of failing quickly and often. it's only through failing a lot that a business can become successful. Using a business model canvas is a great way to identify assumptions that need to be tested and track what's not working so that you can adapt quickly. The quicker you iterate, the more test, and the higher your chances of success.
"You have to see failure as the beginning and the middle, but never entertain it as an end." -Jessica Herrin, founder and CEO of Stella & Dot
A business model canvas is a living document because no business model is set in stone. As you build your business, you'll recognize opportunities and problems that require you to adapt your business model. Take time regularly to dive into your business model and look for ways to improve and adjust it based on what you are learning. Keep your old copies of your business models because it will help you track your progress towards finding problem-solution fit.
Remember, the only goal of a startup is to find a business model that works. You can't expect that your first business model is going to be perfect. Focus on developing the skill of failing quickly and often. it's only through failing a lot that a business can become successful. Using a business model canvas is a great way to identify assumptions that need to be tested and track what's not working so that you can adapt quickly. The quicker you iterate, the more test, and the higher your chances of success.
"You have to see failure as the beginning and the middle, but never entertain it as an end." -Jessica Herrin, founder and CEO of Stella & Dot