The _______ is a fluid, a simple diagram that captures a business model.

Which part(s) of the lean canvas model (LCM) should you use when brainstorming a business concept?

In the Customer Segments part of the LCM, you want to identify and list your ______.

A clear statement of the benefits the solution will provide to customers that are different from and superior to the benefits provided by competing products is known as a product's _________.

Channels are the pathways to customers. How is this accomplished?

If you made 24 brownies and the ingredients cost $5.50 and you sold them for $0.50 each. What would be your profit/loss margin?

If you make 12 cupcakes to sell at a bake sale and the ingredients cost $16 and you sold them for $1.25 each. What be your profit/loss margin?

Business expenses that are the same every month no matter what (rent, salaries, insurance) are __________, while expenses that are _______ fluctuate ( ex. water bill, advertising, supplies)

Indicators for evaluating factors that are crucial to the success of a business are ________

What makes a business unique or special compared to other similar business is its _________.

The avenues a business uses to reach customers, like a website, store, or advertising, defines which section of the Lean Canvas Business Model?

Which step of the Lean Canvas Business Model includes indicators for evaluating factors that are crucial to the success of a business?

Which step of the Lean Canvas Business Model includes the vision statement?

Based on the first two years of sales, what can Margo’s Soups assume for year three?

Based on the data, what can Margo’s Soups do to increase sales?

Planning to start a Vietnamese food truck, Jim is in the cost structure step of the Lean Canvas Business Model. He can make Vietnamese donuts for $1.50 per dozen. He plans to sell them for $9.00 per dozen. How much profit will he make in one day if he sells 60 dozen donuts?

Kim's passion for gardening has led her to sell her vegetables and flowers at the local farmers market. She already recognizes she has a competitive advantage over the other vendors, but she is stuck trying to figure out how to use that advantage in starting her own business. Applying the Lean Canvas Business Model, where is Kim in her plan presently?

Mary sells pasture-raised hen eggs. She was recently approached by a large corporate food business about becoming a supplier for it, but Mary would have to compromise her standards to keep up with the demand. Referring back to the Lean Canvas Business Model (LCM) for her business, Mary has decided to turn down the offer. What part of the LCM has influenced her decision?

Josh met with a lending service to acquire funds for his new business. After discussing his fixed and variable expenses, he feels the need to rethink his financial plan. What part of the Lean Canvas Business Model will he need to reassess to increase his finances?

Luis has an idea for a food truck. He has studied the needs of his community and the types of people that can become potential customers, and he has even developed a business slogan. Applying the Lean Canvas Business Model, what is Luis's next step?

Max is finishing his monthly budget for his new business. Rent is $1,500, utilities range from $350 to $525, Internet is $150, and linens range from $125 to $275 per month. How much are his monthly fixed expenses?

Reggie wants to start a sports nutrition clinic. He has been told about the Lean Canvas Business Model and is ready to try it. Which will his first step most likely be?

A health center and spa just opened. Business is great because the owners have planned well and thought thoroughly about their business concept. They have developed a catchy mission statement and have launched a successful advertising campaign. Which step of the Lean Canvas Business Model did the owners execute well?

Linda is starting a nonprofit that grows vegetables in a food desert in her community. She has identified the problems and her target customers, and she has researched ways to grow food in large amounts with a fairly inexpensive method. Applying the Lean Canvas Business Model, what is her next step?

After completing the Lean Canvas Business Model for his new Peruvian chicken restaurant, Jeff is preparing for the next step. What does Jeff need to do next?

Tom has used the Lean Canvas Business Model to design his weight-loss clinic. So far he has established his purpose, his customer target groups, and his single, clear, compelling message. What is his next step in the Lean Canvas Business Model?

Juan and Paul are in the cost structure step of the Lean Canvas Business Model, and they are considering how much to charge for their special hot sauce. If they charge $3.50, they will make a 30% profit but will only sell a few. If they charge $2.75, they will sell more but make less of a profit. What is a good strategy for them to price their product?

Mandy is selling fresh fruit smoothies, and her business is struggling. It is located near several fast-food restaurants, and her services seem incompatible with the customer base. With poor sales and the wrong customer base, what should Mandy do?

In applying the channels step of the Lean Canvas Business Model, Lola is considering the best way to reach her target audience. She can use an online resource for free, advertise in the daily newspaper for $50 a month, pay to have fliers posted quarterly around the town for $150, or advertise on radio for $375 a month. If she chooses every option, how much will this cost for one year?

Shane sells organic herbs. Recently, his sales have declined, and he is struggling to pay his bills. Using the Lean Canvas Business Model, what step should Shane evaluate first?

John has compassion for the elderly in his community and wants to provide a delivery meal service to help make sure they have access to healthy food at no cost. He is considering a nonprofit business and wants to partner with local churches. Applying the Lean Canvas Business Model, which step will he likely take next?