Pro tip for using the canvas: move from two dimensions to three. If you use a digital canvas, it’s easier, but you can do it analog as well. Use different size stickies to represent relative impact (e.g. value, priority, importance), link stickies that are dependent or connected, and as you already mentioned you can use colors for simple timelines (e.g. now, next, and later)
A BIG Thanks to you, Nick! I've always struggled to start sketching my business models. You did a great job of making the process less scary! And the animations are superb and so minimal! LOVE IT! 😉🙃
Just finished the "Grow your business" playlist: Wow! You definitely deserve more audience: the clearest tutorials and breakdowns I've ever found. You'll probably get more views from Italy. ;-)
You're a legend. Thank you so much! I'm really trying to break things down and make things simple, fun and useful. So it means a lot to get your comment. Grazie mille!
Thank you so much Tommy. It's something I've been thinking about a lot lately - how to break it down and explain it in the simplest, easiest way to understand. So I'm really pleased you liked it 😊
Cheers Drew! Yeah I think it would be really cool for you to apply it to how your own business as a content creator. 🙌Did you see the one I did with Sam Holland?
Business Model Canvas is a handy "provocation" tool to jolt our thinking when business planning. However, it would be equally beneficial to make another video that would give to the unaware better understanding of what is - NOT - in the tool. For example, Leadership, Culture, Purpose, Outside-in measures, The nature of the market gap; Business constraints & Quality, How to manage change, IGOE model - with an emphasis on G/Regulations/Standards, Complexity, Customer Experience management, Financial Literacy, The Great Game of Business ... and other helpful ideas. Thank you for the effort.
You did a great job of covering what's not in the tool! :) Thanks for sharing. Most tools do one thing really well. The Business Model Canvas is a good example. It's a fantastic way of mapping your current business model and exploring future models too. The Culture Map by Strategyzer does a great job of mapping culture and the Environment Map is a great tool for mapping the external context the business is working inside of. So I definitely recommend checking those out if you're not familiar with them. To cover all the aspects you outlined, it helps to use a variety of tools. What ones do you like to use for those purposes?
@@NickHimo A few years ago, Steve Towers wrote that he identified 600 business (process) improvement methods/methodologies. I stopped counting once I reached 90. Business Model Canvas is another "tool" for thinking. I view all models as mental provocations, mind joggers or a more visual checklists. In other words, the emphasis is on - better thinking. So consider the following. Each stage of Geoffrey Moore's Technology Adoption Curve requires a different management structure. Within each stage one would/could apply Moore's four Zones. If you add Michael Masterson's message in "Ready, Fire, Aim" that companies at different revenue levels deal with similar problems irrespective of the industry (I do not expect that to be 100% true, but still useful). Masterson suggest forming a syndicate with such companies to benefit from Wisdom of Crowds and better business intelligence. In terms of mental challenge when trying something new consider Cynefin framework's progress from Chaotic to Clear. And keep in mind "the number one cause of procrastination is ambition". In terms of understanding technology changes, consider Wardley's Value Chains. The Iceberg Model of Change is a tool to "tame a lion" i.e. consider/view/address all layers simultaneously. The crucial part is always start with the Purpose, and identify Outside-in measures. Add to that Capability, Capacity (always excess), Confidence, Constraints (eliminate) and so on.
Happy to help Nikhil! Good luck with your business! Btw did you see this one? I think it's my best one on the Business Model Canvas. ua-cam.com/video/N_gbN2aYAZs/v-deo.html
Usually you work on the Business Model Canvas with your team members. It's something you use internally so you don't generally show customers. Some investors do like to see it. But generally in investment pitches you show a summary slide or two on the business model. You take the information from your canvas but you don't actually show them your canvas. The canvas is your inner workings. I also find it useful showing people who have just joined the company so they can connect the dots. Does that help?
![Alexander Osterwalder: Tools for Business Model Generation [Entire Talk]](/img/n.gif)
The learners' community needs someone like you, Nick. Outstandingly exceeded the expectation. Thank you so!
Pro tip for using the canvas: move from two dimensions to three. If you use a digital canvas, it’s easier, but you can do it analog as well. Use different size stickies to represent relative impact (e.g. value, priority, importance), link stickies that are dependent or connected, and as you already mentioned you can use colors for simple timelines (e.g. now, next, and later)
Very helpful thank you !
Really helpful
thank you.. this this the most clear bmc explanations❤
I’m very happy to hear that. Thank you 😊☺️🤗🤩
I have searched for Business Canvas Model on youtube. This video is the best so far! Clear, efficient.
Thanks so much Liliane! I really appreciate it. I've made quite a few videos on the Business Model Canvas you might find those useful too. :)
A BIG Thanks to you, Nick! I've always struggled to start sketching my business models. You did a great job of making the process less scary! And the animations are superb and so minimal! LOVE IT! 😉🙃
You're welcome Hu! I'm so pleased to hear this video was helpful! Good luck with your business. What are you working on?
Love the simplicity in which you explained the canvas!
Cheers Ryan! I'm always trying to find new ways to teach the Business Model Canvas as quickly and simply as possible. I'm really glad you liked it.
Just finished the "Grow your business" playlist: Wow! You definitely deserve more audience: the clearest tutorials and breakdowns I've ever found. You'll probably get more views from Italy. ;-)
You're a legend. Thank you so much! I'm really trying to break things down and make things simple, fun and useful. So it means a lot to get your comment. Grazie mille!
I love the way you break down the Business Model Canvas Nick!!! 🙌🙌🙌
Thank you so much Tommy. It's something I've been thinking about a lot lately - how to break it down and explain it in the simplest, easiest way to understand. So I'm really pleased you liked it 😊
Thanks for the simplicity
I'm driven to make things as simple as possible for my videos so it's easy to understand the main points. So this comments means a lot to me. Thanks!
Great video nick. Always enjoy the explanations. I should look into using the canvas
Cheers Drew! Yeah I think it would be really cool for you to apply it to how your own business as a content creator. 🙌Did you see the one I did with Sam Holland?
Wonderful thank you
Thank you for sharing
My pleasure!
Business Model Canvas is a handy "provocation" tool to jolt our thinking when business planning. However, it would be equally beneficial to make another video that would give to the unaware better understanding of what is - NOT - in the tool. For example, Leadership, Culture, Purpose, Outside-in measures, The nature of the market gap; Business constraints & Quality, How to manage change, IGOE model - with an emphasis on G/Regulations/Standards, Complexity, Customer Experience management, Financial Literacy, The Great Game of Business ... and other helpful ideas. Thank you for the effort.
You did a great job of covering what's not in the tool! :)
Thanks for sharing.
Most tools do one thing really well. The Business Model Canvas is a good example.
It's a fantastic way of mapping your current business model and exploring future models too.
The Culture Map by Strategyzer does a great job of mapping culture and the Environment Map is a great tool for mapping the external context the business is working inside of.
So I definitely recommend checking those out if you're not familiar with them.
To cover all the aspects you outlined, it helps to use a variety of tools.
What ones do you like to use for those purposes?
@@NickHimo A few years ago, Steve Towers wrote that he identified 600 business (process) improvement methods/methodologies. I stopped counting once I reached 90.
Business Model Canvas is another "tool" for thinking. I view all models as mental provocations, mind joggers or a more visual checklists. In other words, the emphasis is on - better thinking.
So consider the following. Each stage of Geoffrey Moore's Technology Adoption Curve requires a different management structure. Within each stage one would/could apply Moore's four Zones. If you add Michael Masterson's message in "Ready, Fire, Aim" that companies at different revenue levels deal with similar problems irrespective of the industry (I do not expect that to be 100% true, but still useful). Masterson suggest forming a syndicate with such companies to benefit from Wisdom of Crowds and better business intelligence. In terms of mental challenge when trying something new consider Cynefin framework's progress from Chaotic to Clear. And keep in mind "the number one cause of procrastination is ambition". In terms of understanding technology changes, consider Wardley's Value Chains. The Iceberg Model of Change is a tool to "tame a lion" i.e. consider/view/address all layers simultaneously. The crucial part is always start with the Purpose, and identify Outside-in measures. Add to that Capability, Capacity (always excess), Confidence, Constraints (eliminate) and so on.
nice one .very explicit
Thank you Dina!
Thank You
You're welcome 🤗
Thank you for this.
You're welcome James! 🙌
Nick i want to know about bmc then i see your video. I found it not so hard for mine business thanks man ❤❤
Happy to help Nikhil! Good luck with your business!
Btw did you see this one? I think it's my best one on the Business Model Canvas.
ua-cam.com/video/N_gbN2aYAZs/v-deo.html
@@NickHimo yeah bro I am watching your whole business playlist. 🎁
Love the advice and gotta say your whole set up is awesome man!
Legend! Thank you Paul. Really appreciate it. 🙏
@@NickHimo My pleasure man! Hope your doing well!
All good my side Paul. I hope you’re enjoying the sun ☀️
@@NickHimo Yeah its been pretty good hasn't it! Hope it carries on through this next week :)
Another great video Nick! Loved the behind the scenes angle too! Learning so much about the Business Model Canvas = Game changer!
Woohoo! 🥳Thanks Calum!
Also thank you for giving me the suggestion to focus my videos on the business model canvas!
Love the term and concept of 'cognitive murder'
hahah full credit to Alex Osterwalder for that one. :)
hey there , i would like to ask if its wrong to type this on a computer, and if its fine should i use word or powerpoint
Hey man! I'm just curious-who is the "somebody else" in the "committing cognitive murder" segment? Future investors? Customers?
Usually you work on the Business Model Canvas with your team members.
It's something you use internally so you don't generally show customers.
Some investors do like to see it. But generally in investment pitches you show a summary slide or two on the business model. You take the information from your canvas but you don't actually show them your canvas. The canvas is your inner workings.
I also find it useful showing people who have just joined the company so they can connect the dots.
Does that help?