Opportunity Canvas Introduction
The Opportunity Canvas is a method used to improve existing products with new opportunities and possibilities. The canvas helps answer the question of which product or capabilities can solve a problem for the users.
This canvas is often compared to the Business Model Canvas and the Lean Canvas. Where these canvases involve a new idea, product or service and a new revenue model, the objective of the Opportunity Canvas is to make adjustments and improvements to products with an existing revenue model. So there is no need to take a revenue model into account.
The Opportunity Canvas helps discuss new opportunities for existing products and provides insight into how customers will use this product.
The Opportunity Canvas was designed by Jeff Patton.
Download TemplateOpportunity Canvas
Executing the Method
Step 1: Using the Template
Use the template digitally, draw or print it on a large sheet of paper (minimum A3 format) or opt for a flip chart.
Step 2: Formulating the Problem
In order to arrive at new possibilities and functions, it is important to first clarify the problem. Formulate the problem as concretely as possible and write it down under the heading "problems". Also consider how these problems are already being solved today. Write down the current solutions under the heading "solutions today".
Step 3: New Ideas
Brainstorm about new ideas and what helps to solve user problems. Think of new possibilities, products and functions for the existing product. Enter all new ideas under the heading "solution ideas".
Step 4: Formulate Customers and Users
Which customers and users have the problem and will use the new ideas and the corresponding solutions? Describe these customers and users under the heading "users & customers". Also consider how users can start using the new product. Write the answer under the heading "How to use".
Step 5: Effect of the Solution
How do the new capabilities or functions of the product affect the business? And what are their effects on the business when the solution is not implemented or used by the potential users? Describe this under the heading "business challenges". Suppose customers already own your new capabilities or functions, then find out how they are already using it. Write that down in the "user metrics" box.
Step 6: Statistics
Brainstorm about the statistics. How can it be measured that users also benefit from using the new opportunity or functions and consider how the measures can bring success to the company. Write the outcome in the "business benefits & metrics" box. Also consider how users and customers will use the solution and how to get there. What is already going well and what can be improved. Therefore, draw up an "adoption strategy" and take the steps in the profession of the same name. Finally, the "budget" is determined and what costs will be incurred if it is successful.