The difference between the NEXT Canvas and the Business Model Canvas

The Business Model Canvas (BMC) is a strategic management and lean startup template for developing new or documenting existing business models. It is a visual chart with elements describing a firm’s or product’s value proposition, infrastructure, customers, and finances.

In other words, the BMC is a design tool for the creation or renewing of business models. The BMC is often used during ideation sessions and to regularly check the viability and feasibility of business models.