Class Central Tips
By the end of this guided project, you will be able to use the Lean Canvas to test your startup business model hypothesis, and validate the key assumptions. The Lean Canvas serves as a tactical planning tool to guide entrepreneurs in navigating their way from ideation to building a successful business. The Lean Canvas is created especially for entrepreneurs to make it easier for the founders to work their way around the most critical aspects of starting a business. These steps range from identifying the customers and their problems, to designing a unique value propulsion that focuses on the solution; from there to mapping out channels to reach the customers, to pinpointing key performance metrics; then to analyzing the revenue streams and cost structure; and finally, to striving for unfair advantage.
For us to practically demonstrate how the model works, we will use a spreadsheet to analyze a startup Social Venture. Examples from the case study would empower you to use the model to analyze your startup idea or any other company of your choice. Lean Canvas is entrepreneur-focused, but equally useful for everyone involved in introducing a new product or idea to the market. At the end of the project, you will be able to use the Lean Canvas to brainstorm possible business models, prioritize where to start, and track ongoing learning.
