It should never be a case between choosing one or other; it should always be about getting synchronicity between the two.
We see value in Business Canvas but only recommend Custom Business plans.
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It was initially introduced by Alexander Osterwalder, and is essentially a template for the development of a business model, in the form of a visual chart that contains specific elements that outline an array of attributes.
These are the properties or qualities that either a company or their product have relating to: Although later versions of the same document have been released, there have only ever been minor changes to the original template.