The Business Model Canvas (BMC) is a key tool used by both entrepreneurs and existing organizations to launch, grow, and sustain businesses and social enterprises. Villanova’s Institute for Innovation and Entrepreneurship coaches innovators across campus on how to work through the BMC for their ventures.
Completing a Business Model Canvas is a key requirement for competing in the Villanova’s Student Entrepreneurship Competition (VSEC), held during the spring semester, which awards over $20 thousand dollars in prize money.
The Library collaborated with Stephen Green, Assistant Director of the Institute for Innovation and Entrepreneurship, to curate a Business Model Canvas Guide with databases, books, articles, and research tips for filling in the BMC. When I met with Green in the IDEA Lab, he said completing the BMC is required for VSEC because it is a necessary tool for “visualizing and analyzing any ventures’ strategy.” He remarked that “teams use the BMC to stay on track and keep each other accountable.” Determining optimal revenue or profit models, he noted, prove to be most challenging for many teams.
The Business Model Canvas Guide may be ideal for entrepreneurs with a DIY orientation. But Business Librarian, Linda Hauck, is also available for consultations for those who appreciate a personalized, targeted approach.
Talking with fellow entrepreneurs is another great way to generate ideas about how to approach populating your BMC. Nova Women Entrepreneurship Panel, held on Monday, Oct. 17, at 5 p.m. in the IDEA Lab is a great opportunity to learn from founders. You can register here.
Linda Hauck, MLS, MBA, is Business Librarian at Falvey Library.