Growth thinking vs. Business Model Canvas

Originally published https://mygrowththinking.com/growth-thinking-vs-business-model-canvas/

Growth thinking, like business model canvas, is both design methodology for problem-solving. Business model canvas is for building a company, whereas growth thinking is about accelerating growth.

Both serve an equally important role as they complement each other in several ways. They compliment each other, whereas business model canvas is about building and starting, and growth thinking is an accelerating growth methodology.

If you look at the spectrum of business methodologies, there are four types.

Accelerating growth​

  1. Pirate Funnel AARRR
  2. G.R.O.W.S.-process
  3. T-shaped Growth Hacker
  4. One Metric That Matters
  5. North Star Metric

Build a company​

  1. The Business Model Canvas
  2. The Value Proposition Canvas
  3. Lean Startup Canvas
  4. Blitzscaling Canvas Business
  5. Model Innovation Framework

Managing projects​

  1. Agile
  2. Scrum
  3. Waterfall
  4. Kanban
  5. PRINCE2

Offering Design

  1. Design Thinking
  2. Google Design Sprints
  3. Lean Startup
  4. Double Diamond Design
  5. Kano Model

Where do business model canvas and growth thinking connect

If you a startup — business model canvas becomes your business plan and blueprint for founders, investors, and other stakeholders, and growth thinking is where it helps accelerate those plans.

If you’re an operating business — growth thinking would supersede business model canvas as you would have your company ready to accelerate its growth.

Will business model canvas improve design thinking

Selecting the right methodology is about the following aspects:

  1. Can it achieve what we need
  2. Is it easy to use and learn
  3. Is there enough supporting materials
  4. Can it improve our ROI

Those four factors help you choose the right method at the right time. Supporting materials and being able to learn the method are critical. The faster and easier you can adapt to a new method, the better it is. This factor would supersede inherent drawbacks, which they would all have.

It’s more important to learn quickly vs. inherited drawbacks because once you know the drawbacks, you can become even more creative with those methodologies. Many of the methodology designers focus on updates and upgrades over time.

Business model Canvas

When the business model canvas is filled correctly, almost everyone can understand your business and its functions straightforwardly and intuitively.

Business plans vs. business model canvas

If you don’t delve deep into the concepts, it gives you an idea of what the business is and how it works. Business model screens are one of the most popular business models in the world today, and they can describe your business model straightforwardly and intuitively, unlike other methods that use visual descriptions.

Initially developed by Alex Osterwalder and Yves Pigneur, Business Model Canvases is a strategic management tool that enables you to visualize and evaluate your business ideas and concepts. They introduce you to the process of developing and testing your organization’s business model (s), according to the website.

Value Proposition Canvas

Companies need a clear vision of how their product should reach their customers. The business canvas model helps them define their vision for the value of their products and services and their value proposition.

Business Model Canvas has a clear value set that can guide you through this critical task when creating a business plan. If the business model is known and only minor innovations are required, founders can dive directly into the Canva business model. Business models allow you to outline your existing services and products quickly, prototype your business models and new concepts, and test — drive your products and services in real-world environments. Business models Canvas allows you to understand, design systematically, and differentiate your business model from others.

Pitching the business model

The creation of your business model requires little time, especially compared to classic business plans. Creating a business plan based on the business model is very easy, as you do not need to use any specific tools.

Finally, it is essential to develop a profitable business model and business plan to stay ahead of the curve and be successful.

Business models canvas and beyond the traditional business plan

There are several ways to show and shape your business model, but the most common is the Business Model Canvas.

A business model is a blueprint for companies that take away all the fine details of a traditional business plan that you create and figure out in a conventional business plan.

Business model canvas a successful methodology

An Effective Business Model Canvas

The creation of your business model requires little time, especially compared to classic business plans. Creating a business plan based on business models is very easy, as you do not need to use any specific tools. At the end of the process, your business models should look significantly different from the beginning.

Starting or existing businesses alike

You should see how easy it is to present your company’s complete business model on just one piece of paper. You can create a business model proposed by Alex Osterwalder and write a business canvas with investors’ financial attractiveness. You can use the business models’ value structure on the screen to develop further detailed business scenarios. With the Canvas business model, we can quickly outline the existing service or product, design a business model for a new concept, or draw up business plans for our investors’ financial attractiveness.

A business model is an excellent tool to help you start or expand your business. Entrepreneurs, managers, and strategic partners can develop new business models when working with software development companies or refine existing ones. A ready-made business model canvas can also help you start a collaboration in a software development company. Although this still works across many different types of business. One of the great things about the business model canvas is excellent for attracting and onboard business partners at all levels.

Evolving your business

A Business Model Canvas can provide you with added value to your business model that can be critical to its success. Values are the essence of a business model, so it is impossible to avoid them and to provide a clear description when building a business model. The presentation of your customers is looking for your products or services and the customers’ expectations and expectations.

Questions and Answers for this article

What is Business Model Canvas

What is Growth Thinking

SOURCES

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https://www.potential.com/articles/business-model-canvas/

What's the difference between business model canvas and growth thinking?

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Strategist entrepreneur & innovator in space tech, government, & health/wellness. Has raised $20m directly /+$100m indirectly for startups. www.nadersabry.com