6 business model templates for product builders
Last updated: February 2024
A well-defined business model is an important tool. It determines how you will create, deliver, and capture value as a business. When you can articulate this in a structured way, it becomes easier to align on your strategy with the broader team. Your business model can also help guide future product decisions so that they tie back to your overall business goals.
You could build a complex business model from scratch (and some organizations do). But for many product builders, a business model template offers a convenient way to get started — while ensuring you include all of the essential components. Templates such as the business model canvas and lean canvas are some of the most well-known options, but others (such as Porter's 5 forces and segment profiles) can be just as helpful depending on the information you want to capture.
Build out your business model — try Aha! software.
This guide will help you learn more about and access the different business model templates. Use the following links to jump ahead to a specific section:
What is a business model?
A business model answers foundational questions about how your business operates — outlining the problem you are going to solve, the market you will serve, the level of investment required, what products you will offer, and how you will generate revenue. Whether you are part of a startup or an enterprise team, business models are helpful tools for clarifying what you want to achieve (and how).
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How to choose the right business model template
Pre-built business model templates let you analyze a variety of business and market factors in a single view. But with several to choose from, which is the best one to use?
Different situations will call for different types of strategic models. For example, if you are developing a new product, you could use a business model to define the key elements of your initial offering. But if you are in an established business, you might choose a model to summarize the research and strategy behind a new market opportunity. Keep your goals and audience in mind when choosing a business model template — this will guide you to one that fits your needs. (And of course, most templates can be easily modified for various use cases).
We have compiled our top business model templates in this guide. Each one is available as a collaborative and shareable whiteboard template in Aha! software. Navigate to the one you are most interested in or try a few to see which you like best:
Business model canvas template
Use a business model canvas template to represent the foundational elements of your business and product strategy. From customer challenges to pricing, this template gives you space to analyze multiple business and market factors in a single view.
Key components of a business model canvas:
Description of your business or product
Key objective
Customer targets and challenges
Solution and value
Pricing
Messaging
Go-to-market ideas
Investment required
Growth opportunity
Lean canvas template
A lean canvas template is similar to the business model canvas template — presenting much of the same information in a more streamlined way. The key difference is that the lean canvas was designed with entrepreneurs and startups in mind. This template can help you formulate a hypothesis and make an actionable plan for the problem you want to solve.
Key components of a lean canvas:
Problem
Solution
Key metrics
Unique value proposition
Unfair advantage
Channels
Customer segments
Cost structure
Revenue streams
Porter's 5 forces template
The Porter's 5 forces template is all about external factors. By examining the market and competitive landscape, you can get a better idea of what alternative solutions are available to your customers. That way, it is easier to differentiate your product based on what makes it uniquely valuable.
Key components of Porter's 5 forces:
Buying power
Alternative solutions
Existing competition
New rivals
Partner leverage
SWOT analysis template
The SWOT analysis template provides a simple framework for identifying what you are doing well and where you can improve. By weighing internal against external factors, you can better understand how you fit into the market landscape and uncover additional growth opportunities. For more, see our collection of 11 SWOT analysis templates.
Key components of a SWOT analysis:
Strengths
Weaknesses
Opportunities
Threats
Segment profile template
A segment profile template can help you capture the characteristics of people and opportunities within a market segment. This is essential to understanding what your customers really need. You can create multiple segment profiles for your customer personas so you have an idea of how to position your product for each one.
Key components of a segment profile:
Geographic characteristics
Demographic characteristics
Behavioral characteristics
Psychographic characteristics
Market size
Market growth
Competition
Risk
Approach
10Ps marketing matrix template
Use the 10Ps marketing matrix template to outline your go-to-market strategy. Although this business model template is more focused on marketing attributes, it offers a holistic view that is helpful for marketing, product, and leadership teams alike. The 10Ps matrix is best for considering how you will launch your product and promote it over its lifecycle.
Key components of a 10Ps marketing matrix:
Product overview
Price
People
Process
Promotions
Programs
Place
Physical environment
Partners
Positioning
Put your business model into action
No matter which business model template you use, remember that the most successful businesses and products are built on a clear strategy that the whole team understands. Documenting your approach and making it accessible can help everyone align on the biggest factors impacting your success.
These whiteboard templates will help you get started fast. If you want a more formalized version, all six of these business model templates are available in Aha! software as built-in strategic models. That way, your business model is easy to reference and update alongside your goals, initiatives, roadmaps, and product plans — so you can be sure to bring the big picture into your daily work.
