Business Model Canvas, Competitive Strategy, Value Chain
I was always confused with the Business Model Canvas because I thought it evolved over time which it does but the end goal is to find a model and then scale that model once you found it. The Business Model Canvas is great for discovery of your business model and figuring out what value you want to provide and seeing if a business is viable. During this period it makes sense to use low amounts of money and try many different hypothesis and arrive at a model. At this point you need to move from the Business Model to the Competitive Strategy.
Once you figure out a Business Model in the Canvas you need to pick some of the 4 strategies that Michael Porter lists. This means understand IMG your competitors and figuring out from the Five Forces where you want to play. A business model after it is found can lead to multiple players that will jockey for position the goal is to play one of the 4 strategies and organize your company around that.
Once you have organized your strategy it is now time to figure out your Value Chain and set up how you deliver your value including KPIs for each section. This will lead to optimizing each other Value Chain activities including supporting and primary. With that you can scale your business by focusing on each part of the chain.
This leads to a good way of thinking about the business model and strategy of your business. It allows you to define your model by doing and MVP and going from there to build out your model.