Week 12 - Lean Canvas and Business Plan Quiz

What is the main purpose of a "Business Plan"?

• To avoid thinking about your business

• To serve as a map or guide for your business

• To only talk about problems

• To make your idea more confusing

How many key building blocks does the Lean Canvas typically have?

• 3

• 5

• 7

• 9

Which two Lean Canvas sections focus on the core issue and who you're helping?

• Revenue Streams and Costs

• Problem and Customer Segments

• Solutions and Key Metrics

• Channels and Unfair Advantage

What does the "Unique Value Proposition" section of the Lean Canvas answer?

• How much money you need

• Why a customer should choose your product over others

• What your favorite color is

• How many products you will sell

Which of these is an example of a "Key Metric" for measuring success?

• The color of your logo

• Number of customers or products sold

• The name of your team

• How many hours you slept last night

"How will your business make money?" is addressed in which Lean Canvas section?

• Problem

• Solutions

• Revenue Streams

• Unfair Advantage

What do "Key Resources" refer to in the Lean Canvas?

• The most important books you read

• The most important assets needed to make your business work

• Your customer's friends

• The amount of sales you made yesterday

What is an "Unfair Advantage"?

• A feature that is easy for competitors to copy

• Something that cannot be easily copied or bought by competitors

• A secret password for your website

• A way to make your product cheaper

Why is the Lean Canvas considered a "living document"?

• It's only for biology classes

• It's meant to be constantly updated and changed as you learn

• It grows like a plant

• It never needs to be looked at again

Which section is usually written LAST in a formal, detailed business plan?

• Company Description

• Market Analysis

• Executive Summary

• Financial Projections