The Busines Concept Map Compared to other Canvas Models

During entrepreneurship studies educators challenge students to develop their own business idea. Without previous experiences students are facing difficulties in defining business models/concepts. To help students/entrepreneurs, new tools have been developed. In this article three different tools/methods will be compared to satisfy today’s entrepreneurial need. Design/methodology/approach:In the last 7 years more than 2000 students got the assignment to build business model using one of the tools. We wereevaluating the quality and the content of the student home works andtested our new concept. Findings: In this methodology, instead of using the Business Model Canvas, another model, the Business Concept with six major building blocks was used. The model was further developed as a standalone tool called Business Concept Map published in a ‘How to cook type guidebook’ (Vecsenyi, Petheő2017). Research/practical implications:Vecsenyi (2011) developed a website (www.startmybusiness123.com) to support students and other future entrepreneurs to develop their business concept, analyze risks and make an educated decision on stopping, postponing or starting the implementation of their business idea. Originality/value:In this paper we would like to define, compare and differentiate the three tools. We would like to share our experience of using the tools by giving practical examples.