The Lean Canvas

The Lean Canvas

Open Ended

1. How do you think entrepreneurs plan their business before they launch?

2. What risks do they need to be willing to take to launch a business?

Poll

What do you think is the biggest risk an entrepreneur must consider while planning to launch their business?

• They need to make sure they won't run out of money

• They need to be sure that people will actually buy the product or service

• They need to be sure they can really make the product or deliver the service

Match

Match the following vocab:

• Problem

• Solution

• Reward

• Risk

• Lean Canvas

A difficult or unwanted situation

An action or process of solving a problem

What entrepreneurs get in exchange for starting a business. Can include money, independence, etc

The chance of losing something or having a negative outcome

A strategic management and startup template for developing new business models.

• A difficult or unwanted situation

• An action or process of solving a problem

• What entrepreneurs get in exchange for starting a business. Can include money, independence, etc

• The chance of losing something or having a negative outcome

• A strategic management and startup template for developing new business models.

Open Ended

What are some characteristics of a successful entrepreneur?

Multiple Choice

One free point.

• Yes!

• No thanks.

Open Ended

Name some risks and rewards of being an entrepreneur.

Business Plans

Concept: What is your product/service, and how is it different from others?

Customer: Who will buy your product/service and why?

Capital: How will you secure the startup money? What will be the costs and what profit do you expect?

Three C's of a business plan

A business plan states your business goals and how you plan to meet those goals.

Entrepreneurs and businesses use a business plan as a guideline for identifying challenges and dealing with risk.

Lean Canvas

You will use the Lean Canvas to plan out your business over the course of this semester, starting with the Problem and Solution tiles.

Your Business Project

Similar to a business plan, but all ideas fit on one page. Entrepreneurs use this to plan out everything at a glance.

A strategic management and startup template for developing new business models.

Match

Match the following examples to sections of the lean canvas.

• Too many people work during the day and can’t walk their dogs until they get home.

• We will provide a service to working people with dogs by hiring reliable people to walk their dogs during the day.

• Our business caters to working professionals aged 25–50 who need someone to walk their dogs during the day while they are at work.

Problem

Solution

Customer Segment

• Problem

• Solution

• Customer Segment

Match

Match the following examples to sections of the lean canvas.

• All dog walkers will complete a background check and special training. Customers can then choose dog walkers by reading their bio and employment information.

• All our dog walkers have a background in pet care, a clean background check, and references from past employers.

• We will utilize social media advertising, word of mouth, and ads in newspapers to reach our target customer.

Value Proposition

Unfair Advantage

Channels

• Value Proposition

• Unfair Advantage

• Channels

Match

Match the following examples to sections of the lean canvas.

• We will track the number of people who visit our website and how many people download the GPS app once they have purchased our service. We will track areas with the most customer interest based on how many people in each area use the service.

• Our revenue will come from two main places: our customers who purchase this service and potential employees who will pay a processing fee with their application. Customers prefer to pay through the app with a credit card.

• We will need to spend money on social media marketing, GPS systems, creating our app, and attracting employees.

Key Metrics

Revenue Stream

Cost Structure

• Key Metrics

• Revenue Stream

• Cost Structure