![]() We need to start from the same point and talk about the same thing. We need a concept that everybody understands: one that facilitates description and discussion. The canvas is perfect for any good discussion, meeting, or workshop on business model innovation and creates a shared language. Without such a shared language it is difficult to systematically challenge assumptions about one’s business and innovate successfully. This concept can become a shared language that allows you to easily describe and manipulate business models to create new strategic alternatives. in order to model the framework of the business. Products or services could be done ahead of time in terms of calculating the business' recurring revenue, profit, marketing costs, advertising spend etc. This now meant businesses could be modelled before they were actually launched. Being able to calculate your entire profit and loss for a business was now available to you on a single Microsoft Excel page. The change occurred hand in hand alongside the introduction of powerful new technology such as Microsoft Excel, enabling people to model them digitally and more accurately. Entrepreneurs used to plan their businesses year by year, quarter by quarter, and write it down in a document almost like a book who’s copy is final. The shift from a business plan to business model goes hand-in-hand with the rise of personal computers and the use of spreadsheets. A good business model answers Peter Drucker’s age-old questions: ‘Who is the customer? And what does the customer value?' Stories that explain how enterprises work. In the middle of the 2002 dot com crisis, Joan Magretta built on Drucker’s business definition to exclaim that business models are “at heart, stories. ![]()
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