business plan vs lean canvas
TRANSCRIPT
BUSINESS PLAN VERSUS LEAN CANVAS
Hashtag: #leanstack
550+ 5-Star reviews
LEANSTACK
ASH MAURYA @ashmaurya
Have you ever written a business plan?
Did you enjoy the process?
2 out of every 100 entrepreneurs write business plans AND enjoy the process
Business Plan versus No Plan
A recipe for going around in circles
Solution
Awesome
The Innovator’s Bias
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Business Plan versus Business Planning
Business Plan versus Business Planning
A document investors make you write that no one reads
66%of successful products report drastically changing their plans along the way.
Business Plan versus Business Planning
A document investors make you write that no one reads
A critical thinking exercise for avoiding the innovator’s bias
What is the job of a business plan?
What do both investors and entrepreneurs want?
The hockey-stick curve
TRACTION matters above everything else
Yay!
01 Your business model NOT your solution is the true product
Solution
Awesome
The Innovator’s Bias
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?
Solution
?
Your “solution” is NOT the product
Problem Solution Unique Value Proposition
Unfair Advantage
Customer Segments
Key Metrics Channels
Cost Structure Revenue Streams
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Your business model is the product
Problem
Top 3 problems
Solution
Top 3 features
Unique Value Proposition
Single, clear, compelling message that states why you are different and worth paying attention
Unfair Advantage
Can’t be easily copied or bought
Customer Segments
Target customers
Key Metrics
Key activities you measure
Channels
Path to customers
Cost Structure
Customer Acquisition Costs Distribution Costs Hosting People, etc.
Revenue Streams
Revenue Model Life Time Value Revenue Gross Margin
Lean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License.
PRODUCT MARKET
Problem
Top 3 problems
Solution
Top 3 features
Unique Value Proposition
Single, clear, compelling message that states why you are different and worth paying attention
Unfair Advantage
Can’t be easily copied or bought
Customer Segments
Target customers
Key Metrics
Key activities you measure
Channels
Path to customers
Cost Structure
Customer Acquisition Costs Distribution Costs Hosting People, etc.
Revenue Streams
Revenue Model Life Time Value Revenue Gross Margin
Lean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License.
PRODUCT MARKET
Business Model Canvas
Problem Solution Unfair Advantage
Key Metrics
Lean Canvas versus Business Model Canvas
Problem Solution Unfair Advantage
Key Metrics
http://leanstack.com/why-lean-canvas
02 The true job of an entrepreneur is systematically de-risking their business model.
Problem Solution Unique Value Proposition
Unfair Advantage
Customer Segments
Key Metrics Channels
Cost Structure Revenue Streams
? ??
??
?
?
?
?
Systematically de-risk your vision
Problem Solution Unique Value Proposition
Unfair Advantage
Customer Segments
Key Metrics Channels
Cost Structure Revenue Streams
? ??
?
?
?
?
Systematically de-risk your vision
Problem Solution Unique Value Proposition
Unfair Advantage
Customer Segments
Key Metrics Channels
Cost Structure Revenue Streams
?
?
?
?
Systematically de-risk your vision
Problem Solution Unique Value Proposition
Unfair Advantage
Customer Segments
Key Metrics Channels
Cost Structure Revenue Streams
?
Systematically de-risk your vision
Problem Solution Unique Value Proposition
Unfair Advantage
Customer Segments
Key Metrics Channels
Cost Structure Revenue Streams
Systematically de-risk your vision
Through a series of conversations
advisorscustomers
investorscompetitors
entrepreneur
team
Solution Unfair Advantage
Customer Segments
Key Metrics
Cost Structure Revenue Streams
DefensibilityMarket Size
Margins
Traction
Investors care about traction above everything else. - Venture Hacks
Problem Solution Unique Value Proposition
Customer Segments
Revenue Streams
Who
Currency
The Promise
?
03 Finding a business model that works is a search problem NOT an execution problem.
Document your Plan A
Time
Document your Plan A
Time
Optimal Maximum
Local Maximum
Document your Plan A
Time
Document your Plan A
Identify riskiest parts of your plan
Time
Document your Plan A
Identify riskiest parts of your plan
Systematically test your plan
Understand Problem
Time
Document your Plan A
Identify riskiest parts of your plan
Systematically test your plan
Understand Problem
Time
Document your Plan A
Identify riskiest parts of your plan
Systematically test your plan
Understand Problem
Define Solution
Problem/Solution Fit
Time
Document your Plan A
Identify riskiest parts of your plan
Systematically test your plan
Understand Problem
Define Solution
Problem/Solution Fit
Time
Document your Plan A
Identify riskiest parts of your plan
Systematically test your plan
Understand Problem
Define Solution
Problem/Solution Fit
Validate Qualitatively
Time
Product/Market Fit
Document your Plan A
Identify riskiest parts of your plan
Systematically test your plan
Understand Problem
Define Solution
Problem/Solution Fit
Validate Qualitatively
Scale
Verify Quantitatively
Time
Product/Market Fit
Document your Plan A
Identify riskiest parts of your plan
Systematically test your plan
Understand Problem
Define Solution
Problem/Solution Fit
Validate Qualitatively
Verify Quantitatively
Time
Scale
ASH MAURYA @ashmaurya
[email protected] 550+ 5-Star reviews
LIFE’S TOO SHORT TO BUILD SOMETHING NOBODY WANTS
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