Opportunity Canvas Template

About the Opportunity Canvas template

What is an Opportunity Canvas?

An Opportunity Canvas is a one-pager that helps facilitate discussion about a product’s features or capabilities. Much like the Business Model Canvas or Lean Canvas templates, the Opportunity Canvas helps you walk through how customers will use your solution, potential setbacks, strategies, challenges, and metrics. But unlike those other models, the Opportunity Canvas is designed for scenarios in which you have already built a product, so you don’t need to consider the operational or revenue model.

When should you use an Opportunity Canvas?

Use the Opportunity Canvas when you already have a product and you’d just like to examine new features or capabilities. If you don’t have a product or revenue model in place yet, you may find a Business Model Canvas or Lean Canvas more helpful.

How do you use the Opportunity Canvas template?

The pre-made Miro Opportunity Canvas is completely customizable—make any changes you’d like and invite your teammates to collaborate. Any changes they make will be reflected in real-time. Encourage people to add sticky notes (which can be color-coded so it’s easy to organize your ideas) and mention others to get their feedback. You can also have a video chat to work through the activities on the canvas with a distributed team.

How do you create an opportunity canvas?

Step 1: Fill in your solution ideas. What product, features, or enhancements might solve a problem for your target audience?

Step 2: Consider your users and customers. What users or customers might have the problem that your solution seeks to address? What are their goals? Can you parse them into separate categories with various sub-goals?

Step 3: How are these users solving that problem today? Think about how they might use your product or service to do so, but also your competitors’.

Step 4: Consider the way in which these users’ challenges impact your business. If you don’t solve these problems for your customers, how will it hurt your business?

Step 5: If your customers already have your solution, then think about how and whether they are using it. What are they doing differently? How does it benefit them?

Step 6: Now brainstorm metrics. How can you tell whether your users are benefiting from your product or service? What measures might indicate that your business is succeeding?

Step 7: How will users adopt your product or service? Think about your adoption strategy: what you’re doing right and what you might do better.

Step 8: With that information in hand, it’s time to consider success. How will success move the needle for your business?

Step 9: Finally, think about your budget. What will it cost your organization if you are successful? What about if you are not?