Hiya!
Hope all of you have had a super Women’s Day Month!💖🎇
As we end this month, let us look at a sure-shot way to solidify our business - by crafting the Lean Canvas for our business this week!
What is the Lean Canvas:
Lean Canvas is a simple, one-page business plan template made by Ash Maurya. It helps you break down your idea into its main components.
It is a tool for building businesses that adapt and change based on customer needs as they expand. Understanding how to use Lean Canvas can help your business grow.
Why do we need to map out the Lean Canvas for our business:
helps new and experienced entrepreneurs explain their ideas and plan their steps
empowers entrepreneurs to perfect their business offers and create plans to solve customer problems in logical, organized ways
enables tracking how well things are going. by capturing key metrics
At its core, Lean Canvas is about imagining your idea at its biggest. In other words, it helps you decide what you want your startup to be and how you want people to see it.
Now let’s jump into 1Tip - 1Tool - 1Technique to effectively craft our Lean Canvas this week!
1 Tip: There is a logical order to fill out the Lean Canvas, we have numbered this sequential order below! Start from 1-9 - same order & fill it in an organized fashion!
1 Tool: The Lean Canvas map is the tool itself here! This is how it looks, if you would like a fillable one, or would like to get it cross-checked by our Lean canvas experts at BossMa, write to us at support@bossma.in!
1 Technique: The Lean Canvas is divided into nine sections, use the prompts below to fill It up:
1. Problem: List your top 2-3 problems your business is targeting; also include how these problems are being solved today by existing alternatives
2. Customer Segments: Identify your target customers and their characteristics
3. Unique Value Propositions: A clear, compelling statement that states why you are different and worth paying attention to, and why the customer should buy from you
4. Solution: Outline a possible solution for the problem listed in #1
5. Unfair Advantage: Something that cannot easily be bought or replaced
6. Revenue Streams: Your different sources of revenue for your business
7. Cost Structure: Your fixed and variable costs on a monthly/ annual basis
8. Key Metrics: The key numbers that tell you how your business is doing, & if you are running the business right towards profitability
9. Channels: Your path to your customers - online & offline channels
Credit: The Lean Canvas is designed by Ash Maurya and is adapted from Strategyzer.com co-founder Alexander Osterwalder’s The Business Model Canvas, licensed under CC BY SA 3.0. No copyright infringements intended.
Enjoy crafting the Lean Canvas for your Business this week - use it to simplify, solidify and strategize better for a profitable business!⚓
Share with women in your networks - so we are all building solid, and sustainable businesses!💝🎯
Thanks for reading BossMa | Strategy Sunday Newsletter! See you next week!
Cheers,
Madhavi Shapeti | Founder, BossMa