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if youre thinking of starting a business the first thing you need to do is go on your computer open up a google doc and get on with writing a long business plan to explain how your startup is going to be the next billion dollar company then once youre finished delete it put it in the bin because you wont be needing that what you need is the business model canvas great to see you and welcome back if youre new here my names nick im a business coach based in london and what we do on this channel is explore tools and strategies to help you grow your business today im going to be sharing three mistakes that a lot of people make when they use the business model canvas and im going to give you three tips to help you overcome them first of all lets break down the name so what do we mean by a business model a business model is just a description of how your company creates delivers and captures value the canvas is just a tool to help you map it out visually and there are nine building