Business Ideation & Lean Canvas Introduction - Glossary

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What is Opportunity Recognition?

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The ability to identify potential business opportunities by observing problems or unmet needs.

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What is a Bug List?

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A brainstorming tool for identifying common problems or frustrations.

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What defines a Viable Business Idea?

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A concept that is feasible, profitable, and meets a market need.

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What is a Target Market?

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The specific group of customers a business aims to serve.

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What is a Customer Segment?

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Groups of customers with shared characteristics or needs.

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What is a Unique Value Proposition (UVP)?

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A clear statement that describes how your product or service solves a problem and why it's better than alternatives.

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What is a Lean Canvas?

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A one-page business plan template focusing on key elements of a startup.

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What is Feasibility Analysis?

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The evaluation of a business idea's potential for success.

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What is a Problem Statement?

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A clear description of the issue your business aims to solve.

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What is a Customer Need?

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A specific problem, desire, or requirement of a target customer.