Now you apply what you’ve learned to your actual startup. This section guides you through creating your first business model canvas using the frameworks from previous sections.
Before You Start
You need three things ready:
Your customer segment - If you haven’t defined this yet, go back to Customer Segmentation first. You can’t build a business model without knowing who you’re serving.
Customer insights - Conversations with at least 3-5 people from your target segment. Assumptions don’t count. Real conversations only.
Time to think - Block 2-3 hours minimum. Rushing through this defeats the purpose. Quality matters more than speed.
If you’re missing any of these, stop here. Get them done, then come back.
Step 1: Choose Your Primary Tool
You’ve learned about several canvases. Which one should you actually use?
Start Here: Value Proposition Canvas
Use this if: You’re in the early stages and still validating if your solution matches real customer needs.
Why start here: It forces you to understand customers before designing solutions. Most startups skip this and waste months building things nobody wants.
What you’ll create: A clear map showing customer jobs, pains, gains, and how your solution addresses them.
Download Value Proposition Canvas Template
Then Add: Business Model Canvas
Use this if: Your value proposition is clear and you need to map out the complete business system.
Why use this: It shows how all pieces of your business connect - from customer relationships to revenue streams to cost structure.
What you’ll create: A one-page overview of your entire business model that anyone can understand.
Download Business Model Canvas Template
Optional Addition: Sustainable Business Model Canvas
Use this if: Sustainability is core to your strategy or required by investors/partners.
Why use this: It adds eco-social costs and benefits to your business model, making sustainability impacts visible.
What you’ll create: A complete business model that balances financial, environmental, and social value.
Download Sustainable Business Model Canvas Template
For Most Startups
Start with Value Proposition Canvas. Once that’s solid, move to Business Model Canvas. Add Sustainable BMC only if you actually need it.
Don’t try to fill out every canvas. Pick the one that matches your current questions.
Step 2: Customer Segmentation First
Before touching any canvas, write down your customer segment using the three dimensions:
Demographics: Who are they specifically? Age, location, company size, role, industry - whatever defines this group.
Behavior: What do they do today? Current solutions, pain points, decision processes, triggers that make them look for something better.
Psychographics: Why do they act this way? Values, goals, motivations, fears, what makes them try new things versus stick with status quo.
Write this in complete sentences, not bullet points. If you can’t write three clear paragraphs, you don’t know your customer well enough yet.
Test it: Show your segment description to someone unfamiliar with your idea. Can they immediately picture this specific person? If not, make it more concrete.
Step 3: Fill Out Your Value Proposition Canvas
Download the template and open it. You’ll work right to left: customer profile first, value map second.
Customer Profile (Right Side)
Customer Jobs:
List 3-5 specific jobs your customers are trying to complete. Use their exact language from conversations. Be concrete about what they’re trying to accomplish.
Not: “Want to be healthy”
Yes: “Need to prepare healthy weekday dinners for family in under 30 minutes”
Pains:
List 3-5 specific frustrations, obstacles, or negative experiences. Include numbers when possible. What takes too long? Costs too much? Creates stress?
Not: “Time-consuming process”
Yes: “Spends 6 hours every week manually entering transaction data”
Gains:
List 3-5 positive outcomes they want. What would make them happy? Exceed expectations? Make their life easier?
Not: “Better results”
Yes: “See exactly which products are profitable and which lose money”
Value Map (Left Side)
Products & Services:
Describe what you’re offering in customer outcome language, not technical features.
Not: “AI-powered SaaS platform with mobile app”
Yes: “Automated financial tracking that updates in real-time from your sales system”
Pain Relievers:
For each pain you identified, write specifically how your solution addresses it. Make direct connections.
Pain: “Spends 6 hours weekly on manual bookkeeping”
Reliever: “Automated transaction categorization reduces bookkeeping to 30 minutes per week”
Gain Creators:
For each gain they want, explain how your solution delivers it.
Gain: “See which products are profitable”
Creator: “Dashboard shows profit margins by product, updated automatically with every transaction”
Check the Fit
Look at both sides together. Does every pain reliever connect to a specific pain? Does every gain creator connect to a specific gain? Are there major pains you’re ignoring? Are there elements of your solution that don’t connect to anything the customer cares about?
Gaps are good to find now. Fix them before building anything.
Step 4: Build Your Business Model Canvas
Once your value proposition is solid, expand to the full Business Model Canvas. You already have two sections done:
Customer Segments: Transfer from your segmentation work
Value Propositions: Transfer from your VPC
Now fill in the seven remaining sections:
Customer Relationships: How do you interact with each segment? Personal assistance? Self-service? Automated? Community?
Channels: How do you reach customers and deliver value? Direct sales? Online? Retail? Partners?
Revenue Streams: How do customers pay you? One-time purchase? Subscription? Transaction fees? What’s the pricing logic?
Key Resources: What assets do you absolutely need? Physical, intellectual, human, financial resources?
Key Activities: What critical actions must you perform? Production? Problem-solving? Platform management?
Key Partners: Who helps you create value? Suppliers? Strategic alliances? Joint ventures?
Cost Structure: What are your main costs? Which resources and activities cost most? Fixed versus variable costs?
Test the Logic
Read through your complete canvas. Does it tell a coherent story? If you removed one section, would the whole model fall apart? Are there obvious gaps or contradictions?
Walk through this question: “If we serve [customer segment] by offering [value proposition] through [channels], charging [revenue stream], while relying on [key resources] and [key partners], spending mainly on [cost structure], can this actually work?”
If the answer isn’t clearly yes, identify what’s missing or broken.
Step 5: Identify Your Riskiest Assumptions
Every business model is built on assumptions. Some are safe bets. Others are risky guesses. You need to know which is which.
Go through your canvas and write down every assumption. Then for each one, ask:
How confident are you?
Low confidence = risky assumption that needs testing
High confidence = validated or easy to verify
What’s the impact if you’re wrong?
High impact = business model breaks if this is wrong
Low impact = model still works even if this fails
Your riskiest assumptions are: low confidence + high impact
These are what you test first. Not the safe assumptions. Not the nice-to-know questions. The ones that kill your business if you’re wrong.
Write down your top 3-5 riskiest assumptions. These become your testing priorities.
Examples of risky assumptions:
- “Restaurants will pay 200 SEK/month for this”
- “We can acquire customers for under 100 SEK each”
- “Users will open the app at least 3 times per week”
- “Our cost per unit will drop 50% after first 1000 customers”
What You Should Have Now
After completing this section, you should have:
✓ A clearly defined customer segment using all three dimensions
✓ A completed Value Proposition Canvas showing customer-solution fit
✓ A complete Business Model Canvas mapping your entire business system
✓ A list of 3-5 riskiest assumptions you need to test
If you’re missing any of these, go back and complete them. Half-finished canvases don’t help you build a real business.
Common Problems and Fixes
Problem: “My canvas is too vague”
Fix: Add numbers, specifics, and concrete details. Replace every “helps customers” with exactly how much or what specific outcome.
Problem: “I have too many customer segments”
Fix: Pick ONE for now. Build and validate for one segment before expanding.
Problem: “My solution doesn’t clearly connect to customer pains”
Fix: Either redesign your solution or find different customers whose pains it actually solves.
Problem: “I can’t identify risky assumptions”
Fix: Ask yourself: What would I need to be true for this to work? What am I hoping is true but haven’t validated?
Problem: “This feels incomplete”
Fix: Good. It should. Your canvas will evolve as you test and learn. This is your starting hypothesis, not your final answer.
Before the Workshop
Bring your completed canvases to Science Park Gotland. We’ll review them together, identify the strongest and weakest parts, and create a testing plan for your riskiest assumptions.
Don’t try to make them perfect. We’d rather see your honest thinking with gaps than polished fiction that looks good on paper but hasn’t touched reality.
The goal is to arrive with clear questions, not perfect answers.
Next: Go to “Get Ready for Workshop” to prepare for your session at Science Park Gotland.