Startup Canvas: Product Strategy and a Business Model for a New Product

Key questions to ask. A recommended approach. An editable template of the Startup Canvas to download.

Paweł Huryn
8 min readApr 27, 2024

Hey, Paweł here. Welcome to the free edition of The Product Compass newsletter, republished on Medium. My original post you can access without a Medium subscription:

In my career, I’ve advised dozens of startups. Many of them struggled with defining a product strategy and a business model for a new product.

I commonly got questions like:

  • What choices do we need to make?
  • What’s the difference between a Strategy and a Business Model?
  • Should we use Business Model Canvas, Lean Canvas, or Product Strategy Canvas?

Over the years, I’ve refined a custom approach that worked particularly well when working with my clients:

In this post, I explain my approach and share an editable version of the Startup Canvas I haven’t presented before:

  1. Strategy vs. Business Model
  2. Disadvantages of the Popular Approaches
  3. The Startup Canvas
  4. Business Model Canvas vs. Lean Canvas vs. Startup Canvas
  5. Recommended Resources
  6. Startup Canvas: Summary And Conclusions