What is a Lean Canvas model?? Have you heard of something like that?
This is the first question which I asked to my group mate Dishant when I heard about it for the first time in our Design Thinking for start-up lecture.
Before getting into the discussion regarding the lean canvas model I would like to ask you what is the difference between a business plan and a business model?
Well, business plan is the list of actions you need to do in order to make a business operation more efficient and successful. Whereas, business model is a blueprint of the source of your revenue. In short it describes the way through which the business can earn revenues and profits.
Coming back to Lean canvas model, it was originally invented by Alexander Osterwalder in the year 2008. The lean canvas model is one- size -fit all model which covers 9 different categories which are necessary for all kind of businesses.
Blank(2013) states that lean canvas model is can change everything in the business and can help you to identify the factors which can make your business activities more efficient and fruitful.
Various categories of lean canvas business model are:
- Customer segments
Identifying who is your actual customer. For whom you are developing a product or service. This is no doubt one of the most important category in the model and also in real life business operations.
Identify the problem is the basic thing because it will help to understand your customer more efficiently and will help you in creating various business ideas.
It includes the way through which you are solving the problems you have identified.
- Unique value proposition
It refers to the value the business is adding to the problem. It should justify that why the customer should use your product/service.
It refers to the channels through which you will see your product/service in the market.
- Revenue Streams
It includes the sources of the revenue. How will the business generate money??
- Cost Structure.
It refers to the cost which is necessary to maintain the success of the business.
- Unfair advantage.
It refers to the unfair advantage which would rise due to your business activities or operations.
- Key activities
It includes list of activities you need to do in order to make your business more successful.
How to use it?
Please refer to the link below which tells how to efficiently use the lean canvas model with suitable examples:
Hope this is useful and see you again!!!!!!!!