Lean Canvas.pdf

LEAN CANVAS  As an entrepreneur, one of the most important tasks you can perform is getting your idea(s) out from your head into a tangible format so that you can communicate that with others. The key fundamental to Lean methodology is the elimination of waste — this includes time, processes,...

LEAN CANVAS  As an entrepreneur, one of the most important tasks you can perform is getting your idea(s) out from your head into a tangible format so that you can communicate that with others. The key fundamental to Lean methodology is the elimination of waste — this includes time, processes, inventory and more. So as a lean startup you need a quicker way to get ideas out of your head, you need to stay lean & avoid waste. What is a canvas? In a painting, the canvas holds the entire image; if any part of the image isn't on the canvas, then it isn't seen by the viewer. If you're a gamer, you might automatically associate the word canvas with 'canvasing an area'. This instruction means that an entire area should be searched. In both of these cases, the word canvas represents the entirety of a thing. Now consider the word lean. Lean meats are those without excess fats. The word lean invokes images of simplicity, a lack of excess. Lean Canvas is a simple, one page business model designed to allow its user to visualize an entire business plan at a glance. Ash Maurya adapted his model from Alexander Osterwalder's original Business Model Canvas, to focus on the specific environment of start-up businesses. Key Principles Lean Canvas focuses on start-up businesses. Start-up businesses are high risk and high action. The traditional business model canvas can take large amounts of time to complete, and therefore isn't updated very often in a timely manner as the business environment changes. Maurya's Lean Canvas creates a quick method for a start-up entrepreneur to blue-print his or her business in about 20 minutes. This encourages ongoing updates due to the ease of completing the canvas. The design prioritizes actionable items, those items that lead directly to actions to be taken, and high risk (meaning areas of extreme uncertainty) factors of start-up endeavors. So, the key principles of the Lean Canvas are ease/speed in completion, focus on high risk aspects of start-ups, and prioritize actionable items related to building a business.  There are nine blocks included in Lean Canvas 1. Problem 2. Solution 3. Key Metrics 4. Unique Value Propositions 5. Unfair Advantage 6. Channels 7. Customer Segments 8. Cost Structure 9. Revenue Streams Startup Business 1. Think of a Startup Business. 2. The business should have something to do with your program. 3. Complete the lean canvas model/template. 4. This will become part of your requirements for this course. The Lean Canvas As a business entrepreneur, it’s your duty to get ideas out from your head onto paper so that others can see and help build the problem solution. Traditional business plans are not relevant in the ideation stage, they take too much time and are usually created without any validated learning. Business plans are more suited to once you have a business running and are looking to scale. During the ideation stage try to stay lean, use the Lean Canvas to get your ideas down and use lean principles to test your hypothesis by getting out the building.