Start Drafting Your Business Model Canvas

Drafting a business model canvas can be intimidating, especially if you don't have a lot of experience. You’re faced with nine interconnected building blocks, and each one feels important and you feel like you need to fill them all until there is no whitespace left. But here's the truth: you don’t need to get it complete and perfect on the first try. The Canvas is a living document that evolves as you refine your business idea.

In this post, we’ll cover a simple, actionable approach to help you get started and build momentum. Whether you're an entrepreneur validating a new idea or a corporate professional exploring growth opportunities, these steps will help you quickly draft your Canvas.

Go in circles

Below you will find the 1-2-3. But you should not do 1 and move to 2 and to 3 and so forth. What you want to be doing is name a customer segment, put down an associated value proposition, fill out key activities and resources and go back to 1 for another customer segment or an iteration if necessary.

The canvas is a visual thinking tool, not an essay with chapters. You are never really done.

Go in circles, centered around the value proposition

Start with the Customer Segments

Why? Because everything begins with the customer. Ask yourself:

• Who are you trying to serve?

• What specific problems or needs do they have?

Don’t overthink it. Write down your best guess. You can refine it later as you gather more insights.

Define the Value Proposition

Once you know your target customers, the next step is to define how you will create value for them. Ask:

• What problem are you solving for them?

• What unique benefit or solution are you offering?

• What is your product / service?

Tip: Focus on the value that differentiates you from competitors.

Link the value proposition an customer segment tightly

Outline Key Activities and Resources

With your Value Proposition in mind, identify what core activities and resources are needed to deliver that value.

• Key Activities: What must be done to create and deliver your solution?

• Key Resources: What assets (people, tech, finances) are critical to executing your activities?

Don’t get stuck here—just focus on the essentials.

Let the value proposition show the resources and activities required

Draft the Remaining Blocks

Now that you have the core of your Canvas, quickly draft the other sections:

• Channels: How will you reach your customers?

• Customer Relationships: How will you interact with them?

• Revenue Streams: How will you make money?

• Cost Structure: What are the major costs?

• Key Partners: Who can help you deliver your solution?

Remember, this is a draft. It’s better to have something imperfect than a blank Canvas.

Work your way around to the other blocks

Summary: 4 Key Takeaways

1. Go in circles - don't try to make one block perfect before moving to the next.

2. Start with Customer Segments - identify who you serve and their problems.

3. Link your VP to customers, key activities and resources to your Value Proposition - if not linked then they don't have a place on the canvas.

4. Draft the other blocks quickly—don’t aim for perfection on the first try.

Ready to draft your business model on a canvas? Start small, keep it simple, and iterate.