Optimising the business model canvas to determine time to market through concurrent product development

Proper time to market is critical to avoid product failure due to launching too early or losing profits because of late product launches. Business model canvas (BMC) planning through the concurrent configuration of decisions can support product launching by optimising profitability. However, using BMC for simultaneous product design decisions is complex, requiring integration between the business decision and the product development strategy. This study aims to develop a mathematical model designed as a tool to determine product time to market by optimising BMC configuration and integrating it with product development activities. This study demonstrates that time-to-market determination does not always need to be fast. The BMC decisions can effectively compensate for revenue loss due to product launch delays. This research contributes to developing a time-to-market determination model by integrating BMC decision-making with product development strategies.