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WorksheetsFoods 2 - 4.02 Startup Ventures
Total questions: 20
Worksheet time: 10mins
Based on the first two years of sales, what can Margo’s Soups assume for year three?
There should be an increase in revenue for year three.
Revenue will go down for year three.
There is insufficient data to complete a projection for year three.
Revenue should be unchanged from year two to year three.
Based on the data, what can Margo’s Soups do to increase sales?
change the menu to hot dogs in hopes of increasing sales
leave everything as is and hope the next year will be better
stop selling soups
try selling cold soups as a menu option during the warm months of the year
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?
solution
cost structure
channels
key metrics
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?
$90
$450
$540
$810
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?
solution
channels
competitive advantage
revenue streams
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?
cost structure
channels
unique value proposition
revenue streams
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?
$500-$800
$1,500
$1,650
$2,490
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?
revenue streams
channels
key metrics
competitive advantage
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?
revenue streams
competitive advantage
unique value proposition
cost structure
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?
cost structure and key metrics
problem and competitive advantage
unique value proposition and channels
channels and revenue streams
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?
order all of his equipment
hire employees
pitch his idea to financiers
connect to the Internet
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?
price check the supplements at the grocery stores
decide what services and products his sports nutrition clinic will provide
call the banks to see whether he can get a loan
figure out how to advertise
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?
$575
$5,700
$10,470
$11,120
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?
decide on a target market and advertise only to that market
try to find a store that will buy cases of their product
send out samples of the hot sauce and hope for the best
offer the product at the lower price first, gain a customer base, then increase the price
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?
competitive advantage
cost structure
solution
revenue streams
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?
close the business and find another job
change her menu to milk shakes
consider moving her location to where there is a better-suited customer base
continue trying to sell fresh fruit smoothies at her present location
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?
channels
unique value proposition
key metrics
competitive advantage
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?
key metrics
channels
problem
competitive advantage
When my product or service has a very specific and different perspective, it has a
problem
key metric
unique value proposition
customer segment
The point when I know that my product or service is successful. The goals I want to meet will be measured with these
channels
key metrics
unique value proposition
customer segments
