How the Impact Business Model Canvas Can Help Businesses Surface Their Social and Financial Value
Before businesses use the B Impact Assessment to evaluate their impact on stakeholders or apply to become a Certified B Corporation, it’s helpful to have a focused definition of the social and financial impact they wish to generate.
The Impact Business Model Canvas (IBMC) is one option to surface new possibilities and innovative solutions that generate both commercial value and social impact. The sections below outline how the IBMC offers a framework for visualizing, evaluating, and refining business models for intended impact.
What is the problem you have identified? How many people are affected?
Why does your venture exist?
- The Eight Word Mission Statement. State your mission in eight words or fewer— i.e., a verb, a target population or setting, and an outcome that implies something to measure. This will create clarity that will assist your team’s design process. For example: “Prevent childhood malaria in remote regions of Uganda.”
- Your Big Idea. This is about your central, distinctive idea about how to accomplish the mission — the idea at the core of all you do. Usually it’s about how you drive behavior. Get your idea down to a sentence that captures your special sauce. Keep working on it until you really like it. Capture your idea first if it helps you sort out your mission. This isn’t a hugely important step, but it’s nice to distill your idea to its essence, both to help you communicate it and think about it. For example: “Get kids under mosquito nets by delivering insecticide-impregnated bed nets in high-malaria regions that can’t be reached by road.”