A Lean Canvas is a 1-page business plan template that helps us deconstruct our idea into its key assumptions. It is adapted from Alex Osterwalder’s Business Model Canvas and optimized for Lean Startups. It elaborate business plans with a single page business model.
Usually a writing a business plans take too much of the time, and are rarely updated, and most of the times never read by others.
Lean Canvas actually solves the problem by just using a 1-page business model that can be created in a very short period of time. It’s a very useful tool for the startups and should be used by entrepreneurs.
The lean canvas is divided into nine parts:
Here we write for whom do we really want to work for and whose problem do we need to solve.In this box we list the one to three high priority problems that our targeted segment has.
- Customer Segments
The problem and customer are intrinsically connected . Without a defined customer in mind you can’t think of their problems, and visa-versa.
- Unique Value Proposition
A value proposition is a promise of value to be delivered. The very primary reason a customer should buy from you. The question over here is why he should buy it from you?
Here we write what all different probable solutions we have for the problems that the customer is facing.
Channels are ways for us to reach our customer. Which channels will give us good access to our customer is selected.
- Revenue Streams
How are we going to earn is stated over here.
- Cost Structure
What all are the different costs that we need to incur is stated.
- Key Metrics
Every business, no matter what industry or size, will have some key metrics that are used to monitor performance.
- Unfair Advantage
This is the most difficult to block to answer. However, we write what makes the customer to choose us over others.