We all love tools since they are great to structure good ideas and make them better. But beaware also about the fallacies of tools. In my firm, we use a proverb to express this:
A fool with a tool is still a fool.
But when Alex Osterwalder heared it, he answered:
A genius without a tool may be (or is) a fool.
So you are warned against the perils of tools. And please, when you use them, be concrete in your answers.
The best tool for business model innovation is the business model canvas to describe your current business or your future business model. Be concrete with what you write. It is easy to write just something on the canvas, but useful and action-oriented description takes more time. Take the time to think. Below you find an empty business model canvas you can use for your own business. At the bottom you find the process we at fluidminds pursue with our clients to find business model innovations. All these tools you can download also as a pdf here.
Business Model Canvas
We use the business model canvas with all the questions as a guideline for the design process of the business model. We use the empty business model canvas to fill in our own ideas. Here is Business Model Canvas in A0 (very large) as a pdf.