Opportunity Canvas Template
Facilitate discussions about new features or capabilities.
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, 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?
Bull's Eye Diagram
When you’re a growing organization, every decision can feel like it has make-or-break consequences—which can lead to decision paralysis, an inability to prioritize, inefficient meetings, and even low morale. If that sounds like you, put a Bull’s Eye Diagram to work. True to its name, a Bull’s Eye Diagram uses a model of concentric circles to help companies establish priorities, make critical decisions, or discuss how to remove or overcome obstacles.
Sticky notes are a popular feature of any virtual, hybrid, or in-person brainstorming session. Participants can use sticky notes to submit, sort, or vote for ideas -- and much more. Use the Stickies Packs template to customize groups of sticky notes for your participants. You can then break your participants into groups according to the color of their sticky notes, or categorize ideas based on color, and so on. The Stickies Packs template empowers you to create brainstorming sessions that fit your needs and align with your goals.
While storyboard is typically associated with planning out scenes for a movie or TV show, it’s been widely adopted throughout the business world. A storyboard is a sequence of illustrations that are used to develop a story. You can use the Storyboarding template anytime you’d like to really put yourself in a customer or user’s position and understand how they think, feel, and act. This tactic can be especially useful when you know there’s a problem or inefficiency with an existing process. You can storyboard existing processes or workflows and plan how you would like them to look in the future.
When you’re developing a business strategy, it can be hard to figure out what to focus on. A SWOT analysis helps you hone in on key factors. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Strengths and weaknesses are internal factors, like your employees, intellectual property, marketing strategy, and location. Opportunities and threats are usually external factors, like market fluctuations, competition, prices of raw materials, and consumer trends. Conduct a SWOT analysis whenever you want to explore opportunities for new businesses and products, decide the best way to launch a product, unlock your company’s potential, or use your strengths to develop opportunities.
You can use an affinity diagram to generate, organize, and consolidate information that comes out of a brainstorming session. Whether you’re building a product, working through a complex problem, establishing a process, or piecing apart an issue, an affinity diagram is a useful and simple framework that gives each team member the opportunity to pitch in and share their thoughts. But it’s not just ideal for brainstorms—this is a great template and tool when you need to reach consensus or analyze data such as survey results.
How Now Wow Matrix
There are no bad ideas in a brainstorm — but some are more original and easier to implement. The How Now Wow matrix is a tool that helps you identify and organize those great ideas, as well as reinvigorates your team to think creatively and take risks (a taller order as you scale). Grab this template to create your own matrix, then rank the ideas you generated in a brainstorm as “How” (difficult to implement), “Now” (easy to implement), or “Wow” (both original and easy to implement).