Go here to a download PDF of canvas. EBC stands for Essential business components, its detailed in my book Forget The Business Plan Use This Short Model. Go ahead check it and learn the analogy I make below (a magician’s business model).
The EBC business model canvas points out 6 components which are crucial for entrepreneurs to focus on; they fit most business types, and serve as guideline of what is vital in running a profitable, sustaining and growing business.
The EBC model is not limited to venturing by entrepreneurs; it’s usable by other value providers such as consultants, freelancers, photographers, musicians, designers, engineers and others.
- In one sheet, crucial business essentials are pointed out, to easily remind you
- It helps you to create products of value, purpose and efficiency to users
- Helps you prioritize marketing effort and spent to generate cash flow the quickest
- Helps you diagnose weakness in the venture processes quickly
- Instills a quick progressive decision making mindset (sanity)
- Readies your mind to distribute/deliver products efficiently
Wikipedia says: “A business model describes the rationale of how an organization creates, delivers, and captures value (economic, social, cultural, or other forms of value).”
Therefore a business model is primary for entrepreneurs to understand. As it’s the magic of creating and/or innovating value in products, turning revenue (profit) on the value and growing your venture.
Think the TV series Breaking The Magicians Code, the business model is the trick (not actual magic) which the magician devices, hoping it will give people transcending entertainment. I guess a good magician comes up with new tricks or innovatively recycles.
Us the audience, see the trick in its final form, now as magic (oh such joy and intrigue). The EBC canvas is meant to help you create that magic.
Business plans are long, tedious to manage and frightening to aspiring entrepreneurs. More-and-more experienced entrepreneurs and startup experts are joining the say: ‘forget the business plan’. Without mention of names, Google the phrase.
Lets keep the conversation going firstname.lastname@example.org. Let’s keep the conversation going email@example.com. Print books in South Africa are available from my office (free courier), mobile – 072 744 6142, tel – 012 767 8084, firstname.lastname@example.org
EBC business model canvas by Tiisetso Maloma is licensed under a Creative Commons Attribution-ShareAlike 3.0 Unported License. Based on a work at http://tiisetsomaloma.co.za. Permissions beyond the scope of this license may be available at http://tiisetsomaloma.co.za.