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![]() The information collected on the canvas can be transferred directly into a formal document and elaborated upon, smartened-up and refined for purpose of the presentation. If a more formal business plan is required, such as for presentation to investors, then this model will ensure you have all the key information you need in a structured format. This can be a great way to initially brainstorm business ideas and financial viability. The simplistic structure of the model also helps to limit the planners’ ability to waffle and get side-tracked thus maintaining focus on the core principles at all times. ![]() This way everyone can write and contribute equally without waiting for the pen and it also allows for flexibility and continuous adjustment. When used in a group setting it may be useful to print out a large business model canvas and use Post It Notes to stick onto the plan. ![]() If you are starting a business for the first time and don’t know where to begin the business model canvas provides clear guidance and direction. This ensures you do not miss any fundamental elements from your plan. The most important benefit of using the business model canvas when planning your business activities is that it provides a concise but comprehensive overview of the key topics.
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