Startup Lean Canvas
The Lean Canvas is designed specifically for startups; it focuses on addressing how your solution solves customer problems and what unique value you offer compared to others in the market or other possible solutions.
Why using Startup Lean Canvas?
Startups don’t have a customer base and often no products or prototypes. So when they try and use the business model canvas, they aren’t able to fill all the boxes and the canvas remained incomplete.
How to use Startup Lean Canvas?
There are some various ways to fill order the Startup Lean Canvas, depending on the needs and perspective of the startup itself. However this instruction is the standard fill order according to the book "The Lean Startup" by Eric Reis. Here's the fill order
Customer Segments: Defining your target customers can be taken from user persona you have created. Lower part on Early Adopters, specify the actual people who will deal with the early development product and are the first feedback providers
Problem: Refer to customer problems that your product is meant to solve. Lower part on Existing Alternative: Designed to contain your competitors that deal with the same problems
Unique Value Proposition: Describe the uniqueness of your product and show its key difference from other alternatives. Lower part on High-Level Concept: A short and easy-to-grasp statement about your product. It’s a kind of elevator pitch, as well as your team members and customers, will use.
Solution: Offered relevant solution and experience the customers are meant to obtain
Channels: Specify communication media to reach out to your target clients defined in the customer segments
Revenue Streams: Specify the expected sources of income. Consider viability on the market by considering your competitors
Cost Structure: Sorts of costs that will be occurred to sustain the business runaway
Key Metrics: Define success metrics to measure the progress of your business
Unfair Advantage: A special thing about your idea that your competitors are not able to copy or obtain in any possible way
When to use Startup Lean Canvas?
There are several different stages to start with:
From Initial Idea to Business Launch. The Lean Canvas allows you to map out the key foundations of your startup. It prompts you to analyze and prioritize your goals during the early stages of your business. From the problem to key metrics, the Lean Business Model helps you build the logic that will help your business foundations be stronger.
Market and Competitor Analysis. The Lean Startup Canvas can also help you to identify your advantages over other market competitors. As part of developing your business model canvas you should compare the dominant players in the market and their model. It also generates a blueprint for your startup to identify a consumer segment based on your solutions.
Launch and Growth. A good practice and part of testing and pivoting in a startup are to revisit the lean canvas. As their company evolves, you can maintain the focus of real-life operations on your unique value proposition.
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