Business model
Explore foundational questions about your business and refine your product strategy
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About the business model template
Innovation is about more than the products or technologies that you build. It is also about how you operate and stand out in a crowded marketplace. This is what makes defining and documenting your business model so essential.
Whether you are starting a new venture, expanding into a different market, or shifting your go-to-market strategy, use this template to analyze business and market factors in a single view. It includes 11 fundamental areas about how you will operate — identifying the problem you are going to solve, the market that you will serve, the level of investment required, what products you will offer, and how you will generate revenue.
This template is an ideal way to start building your business model. After you have completed the exercise, make the model accessible to the team so that everyone understands the high-level approach. Consider using a more sophisticated tool like Aha! Roadmaps to implement your business model — so you can tie strategy to work at every level of your organization.
How to use the Business model template
Capture your business model in a single view to drive strategic conversation around growth opportunities for new and existing products and services.
Articulate your strategic building blocks Include important details about who your customers are, the pain points they need to solve, and the value your solution provides. Then summarize your messaging and go-to-market approach to show how you will reach and engage your target audience.
Establish clear objectives Highlight your business goals and how you will measure success. Consider the costs required to drive business growth. This keeps your plans grounded in reality.
Push your thinking Invite colleagues to the whiteboard — teammates can easily add comments or questions as annotations. Encourage critical thinking to help validate the assumptions you are making about your business.
Connect to everyday work Keep your business model at the forefront of your product decisions. Revisit your model periodically and update it to reflect new learnings and revise your growth strategy.
FAQs about the business model template
Why is building a business model important?
When done right, a business model lays out a clear path for building something meaningful. It distills a company's potential down to its essence and becomes the foundation for all things strategy. Your business model will ultimately guide your organization and influence your product roadmap.
What are some best practices for building a business model?
A good business model is simple and easy to understand. It answers key questions about what you want to achieve and for whom. Although it is important to incorporate feedback from trusted advisors and other leaders at your company, stay true to your values and vision — you will need to distinguish useful feedback from misguided opinions.
Who is this business model template for?
This business model template is useful for anyone building something new. Founders and product builders alike need to clearly define their goals, target audience, and pathways to progress. This template forces deep analysis and encourages pragmatic decision-making.
Is this template free to use?
To use this business model template, sign up for a free 30-day trial of Aha! Whiteboards. (You can also try this template in Aha! Roadmaps if you need a complete product management solution). Easily customize the template to suit your needs, and then share it with as many people as you want (for free) to streamline collaboration.
