Business Model Canvas
To strengthen the product management skills of your engineers, you can perform an exercise to create a Business Model Canvas – a template for creating business models or documenting existing ones. The Business Model Canvas was developed by Alexander Osterwalder in 2005. You can download a free copy of the template here: https://www.strategyzer.com/canvas/business-model-canvas.
The Canvas is meant to be printed out on a large piece of paper and the team can brainstorm and jointly sketch or add post-it notes on it. It contains nine essential components for a business model:
- Value proposition: What problems are we going to solve? What needs are we satisfying?
- Customer segments: For whom are we creating value? Who are our most important customers?
- Customer relationships: What type of relationship does each of our customers expect from us?
- Channels: Through which channels do our customers want to be reached?
- Key partners: With whom...
