Managing Project Expectations and RoadblocksDavid Yarde
Avoiding project crisis and insanity by setting clear boundaries and expectations during all stages of a project and utilizing the discovery phase as a powerful tool during the project lifecycle.
Want to start a company? Have a product idea? Want to be a Founder or Entrepreneur? Here are the 3 things you need to do to launch a startup. I also provide tips, trick and thoughts on startup pitfalls and ways to succeed.
Managing Project Expectations and RoadblocksDavid Yarde
Avoiding project crisis and insanity by setting clear boundaries and expectations during all stages of a project and utilizing the discovery phase as a powerful tool during the project lifecycle.
Want to start a company? Have a product idea? Want to be a Founder or Entrepreneur? Here are the 3 things you need to do to launch a startup. I also provide tips, trick and thoughts on startup pitfalls and ways to succeed.
Journey to product / market fit explained. What do the start-up's first stages look like and what you should keep in mind when identifying a problem worth solving, creating a product and getting your first customers
Nonprofits spend considerable time reaching out to supporters via Twitter, Facebook, and other social networks. But most groups aren’t properly measuring whether these efforts are worth the time and cost. And it can seem like a daunting task to put together an effective strategy for collecting and analyzing data about your social-media efforts. Beth Kanter shares tips for how to measure your social media efforts.
17 Tips to boost your productivity at workProofHub
Being more productive at work is not rocket science. It is all about doing work efficiency - doing more, faster and with less distractions. Here are 17 tips to increase your productivity at workplace.
How to get into the hearts of your audience with the emotional branding tacti...Truong Bomi
01. Draw on basic emotional triggers
02. Design for holidays and seasons
03. Use a powerful combination of imagery and language
04. Design only for your audience
How to apply design thinking to customer developmentHarry Alford
For entrepreneurs with a concept or early-stage startup, there is a problem/solution fit before product/market fit. This also couldn't be more the case when launching a new project or spinning out a venture within a large enterprise.
According to Simon-Kucher & Partners, customers don't care about seven out of 10 new products introduced to the market. One way to ensure customers want your product is by having a strong value proposition.
Utilizing design thinking tools allows you to design products and services that customers want regardless of the size of your enterprise.
Design thinking and customer development are both customer discovery processes. However, if you want to get it right before making big bets while optimizing for speed on limited resources, then these processes are a winning combination.
Above, in the presentation, are four excellent exercises to utilize to drive innovation forward at your enterprise:
Sailboat
Empathy Map
Lean Canvas
Cover Story
If you're scaling disruptive innovations with new business models, then you are targeting non-consumers of a category. This increases the level of difficulty and rate of failure. But sometimes the problems are well defined and can be solved through design thinking exercises.
These are just four ways to apply design thinking to customer development. Still, when facilitated appropriately, they provide a strong foundation for defining the current state, understanding the customer, making a business case, and visioning success.
2016.08.THAT Conference - GROWING NEW PRODUCTS - VALIDATING YOUR NEW PRODUCT ...Ryan D. Hatch
You know how to build great software. The real question is - // What software do customers actually want to buy? // Do you have a new product / business idea? Learn how to validate new product concepts.
Join our Precon 3 Hour Master Class:
* You will learn the latest best practices for taking new products to market
* Live B2C Customer Interview
* Hands-on Collaboration with other attendees
Learn how to transform product ideas into a successful business. Learn how to interview customers. Learn how to create business models using a test-driven approach. Learn how to avoid the top reasons for startup failure. Learn how to run experiments to validate your assumptions and navigate the uncertainty of new products. Meet some awesome people & expand your new product chops. WARNING: New products are hard, exciting, and may become highly addictive. Only come if you want to make a dent in the world.
What are the top reasons your startup Is doomed to fail? Answers vary and originate mostly from investors and startup founders, people who have come face to face with startup failure at least once in their lives...
I would like twenty minutes of your time in which I will present 50 (I know a lot) slides to review 12 Models related to Lean Startup so that I can then introduce the
‘Startup Business Planning Jigsaw’.
The twelve models are:
► Business Model Canvas - Alexander Osterwalder
► Search v's Execution - Steve Blank & Bob Dorf
► Build-Measure-Learn - Eric Ries
►Three Stages of a Startup - Ash Maurya
► MVP and Product Market Fit
►Lean Canvas - Ash Maurya
► Customer Development - Brant Cooper and Patrick Vlaskovits
► Startup Pyramid – Sean Ellis
►Get Keep Grow – Steve Blank & Bob Dorf
► Pirate Metrics – Dave McClure
►One Metric that Matters - Croll & Yoskovitz
How To Fail: 25 Secrets Learned through FailureTaylor Davidson
25 Secrets Learned through Failure, by Taylor Davidson at Unstructured Ventures.
Visit the post on unstructuredventures.com/uv (short link to post: http://tinyurl.com/howtofail ) to add to the discussion, share your lessons learned from failure, and view more.
Calculated Risk: A risk that has been given thoughtful consideration and for which the potential costs and potential benefits have been weighed and considered. Dedication: Selfless devotion to a purpose, cause or project. Feedback: A reaction or response to a particular process or activity. Perseverance: Steadily pursuing a course of action or a purpose in spite of difficulties, obstacles, or discouragement. Reward: Benefit resulting from some event or action. Risk: Exposure to a chance of loss or damage.
A few definitions that everyone who wants to build a startup should know before they change their idea into a product. Basics for every stage of building and growing your business.
Journey to product / market fit explained. What do the start-up's first stages look like and what you should keep in mind when identifying a problem worth solving, creating a product and getting your first customers
Nonprofits spend considerable time reaching out to supporters via Twitter, Facebook, and other social networks. But most groups aren’t properly measuring whether these efforts are worth the time and cost. And it can seem like a daunting task to put together an effective strategy for collecting and analyzing data about your social-media efforts. Beth Kanter shares tips for how to measure your social media efforts.
17 Tips to boost your productivity at workProofHub
Being more productive at work is not rocket science. It is all about doing work efficiency - doing more, faster and with less distractions. Here are 17 tips to increase your productivity at workplace.
How to get into the hearts of your audience with the emotional branding tacti...Truong Bomi
01. Draw on basic emotional triggers
02. Design for holidays and seasons
03. Use a powerful combination of imagery and language
04. Design only for your audience
How to apply design thinking to customer developmentHarry Alford
For entrepreneurs with a concept or early-stage startup, there is a problem/solution fit before product/market fit. This also couldn't be more the case when launching a new project or spinning out a venture within a large enterprise.
According to Simon-Kucher & Partners, customers don't care about seven out of 10 new products introduced to the market. One way to ensure customers want your product is by having a strong value proposition.
Utilizing design thinking tools allows you to design products and services that customers want regardless of the size of your enterprise.
Design thinking and customer development are both customer discovery processes. However, if you want to get it right before making big bets while optimizing for speed on limited resources, then these processes are a winning combination.
Above, in the presentation, are four excellent exercises to utilize to drive innovation forward at your enterprise:
Sailboat
Empathy Map
Lean Canvas
Cover Story
If you're scaling disruptive innovations with new business models, then you are targeting non-consumers of a category. This increases the level of difficulty and rate of failure. But sometimes the problems are well defined and can be solved through design thinking exercises.
These are just four ways to apply design thinking to customer development. Still, when facilitated appropriately, they provide a strong foundation for defining the current state, understanding the customer, making a business case, and visioning success.
2016.08.THAT Conference - GROWING NEW PRODUCTS - VALIDATING YOUR NEW PRODUCT ...Ryan D. Hatch
You know how to build great software. The real question is - // What software do customers actually want to buy? // Do you have a new product / business idea? Learn how to validate new product concepts.
Join our Precon 3 Hour Master Class:
* You will learn the latest best practices for taking new products to market
* Live B2C Customer Interview
* Hands-on Collaboration with other attendees
Learn how to transform product ideas into a successful business. Learn how to interview customers. Learn how to create business models using a test-driven approach. Learn how to avoid the top reasons for startup failure. Learn how to run experiments to validate your assumptions and navigate the uncertainty of new products. Meet some awesome people & expand your new product chops. WARNING: New products are hard, exciting, and may become highly addictive. Only come if you want to make a dent in the world.
What are the top reasons your startup Is doomed to fail? Answers vary and originate mostly from investors and startup founders, people who have come face to face with startup failure at least once in their lives...
I would like twenty minutes of your time in which I will present 50 (I know a lot) slides to review 12 Models related to Lean Startup so that I can then introduce the
‘Startup Business Planning Jigsaw’.
The twelve models are:
► Business Model Canvas - Alexander Osterwalder
► Search v's Execution - Steve Blank & Bob Dorf
► Build-Measure-Learn - Eric Ries
►Three Stages of a Startup - Ash Maurya
► MVP and Product Market Fit
►Lean Canvas - Ash Maurya
► Customer Development - Brant Cooper and Patrick Vlaskovits
► Startup Pyramid – Sean Ellis
►Get Keep Grow – Steve Blank & Bob Dorf
► Pirate Metrics – Dave McClure
►One Metric that Matters - Croll & Yoskovitz
How To Fail: 25 Secrets Learned through FailureTaylor Davidson
25 Secrets Learned through Failure, by Taylor Davidson at Unstructured Ventures.
Visit the post on unstructuredventures.com/uv (short link to post: http://tinyurl.com/howtofail ) to add to the discussion, share your lessons learned from failure, and view more.
Calculated Risk: A risk that has been given thoughtful consideration and for which the potential costs and potential benefits have been weighed and considered. Dedication: Selfless devotion to a purpose, cause or project. Feedback: A reaction or response to a particular process or activity. Perseverance: Steadily pursuing a course of action or a purpose in spite of difficulties, obstacles, or discouragement. Reward: Benefit resulting from some event or action. Risk: Exposure to a chance of loss or damage.
A few definitions that everyone who wants to build a startup should know before they change their idea into a product. Basics for every stage of building and growing your business.
Getting to Product Market Fit - An Overview of Customer Discovery & ValidationJason Evanish
An overview of the first two stages of Steve Blank's Four Steps to the Epiphany: Customer Discovery and Customer Validation. Includes in depth advice on the customer development interview as well.
I'm writing a book on How to Build Customer Driven Products based on tactics like the ones in this presentation. You can sign up to learn more here: http://eepurl.com/RZoO9
Success with Content Marketing Campaigns: 9 Rules for effective sales follow upIncisive Media
Incisive Media have been delivering content marketing leads for technology vendors for over 13 years.
During that time we have noticed a puzzling difference between our vendor clients: some made a solid and immediate return on investment, their content generating a steady stream of interest from IT buyers and decision makers, with a sizable proportion of interested parties going on to purchase; others struggled, their sales follow up failing to get traction with the leads.
This paper is a summary of what we found by digging deep into the differences in our clients’ approach, and represents our understanding of what sets the successful apart from the unsuccessful.
An introduction to advertising planning / strategyverityw
When I started planning I had little idea what my job was. Like, I knew the theory that I'm curious, a problem solver etc. etc. but what do I actually DO every day. Plus, most planning happens in people's heads, so unlike account management, it's hard to watch and learn. I've put this together in the hope that it explains what a planner does. At least, after showing this to my husband he said he finally understands what my job is...
I've included photos I found online. I don't claim to own these, I've borrowed them. If one's yours and you don't want me to use it, please let me know and I won't.
The original presentation has gifs. If you can tell me how to keep this alive while sharing please let me know.
Nesta creative toolkit_book_3_choosing_your_pathTẠ MINH TRÃI
Opportunities for young creative practioners and creative entrepreneurs to acquire and broaden first-hand knowledge and skills for the future business initiatives.
In order to support to the growth of the Creative Economy in Vietnam, British Council collaborates with Vietnam Chamber of Commerce and Industry and the Investment & Trade Promotion Centre of Ho Chi Minh City to organize a four-day Training Programme for Creative Entrepreneurs in Hanoi and Ho Chi Minh City. The programme has been successfully implemented in various countries worldwide by the leading innovation organization Nesta from the United Kingdom.
Attending the Training Programme, creative entrepreneurs are defined as young people with creative idea/initiatives who start their business and young creative entrepreneurs trading up to 24 months. They should work in any of creative industries, including advertising, architecture, arts and antiques, crafts, design, designer fashion, film and video, leisure software, music, performing arts, publishing, software and computer services, television and radio.
Percy Emmett, a highly experienced specialist trainer and strategist in all areas of creative and cultural industries from the United Kingdom, will be the trainer in the Programme. With the extensive experience with setting up and running creative businesses building annual income of £1.7m, he is an expert in business development and mentoring from idea to setup, as well as change management covering all aspects of personal and professional skills, business diagnostics, business planning and finance.
During four days, participants have a chance to enroll on four sessions:
1. Listening and Values Modelling
2. Customer profiling & Future Evidence Modelling
3. Financial and Relationship Modelling
4. Drivers, Business as a Promise and Blueprinting
These aims will enable them to explore their idea and its viability and to enhance leadership, business planning, relation building, resources managing, marketing and financial skills.
How to Build Marketing Presentations for Webinarstodd.lewis
Marketing webinars can build awareness of your company, help advance prospects along the sales cycle and establish you as a thought leader in your field. Or they can frustrate and annoy your audience so that they never want to hear from you again!
Join Ken Molay, president of Webinar Success and a former director of product marketing, as he presents practical guidelines for creating webinar presentations that engage your audience and create sales interest.
In this one-hour, interactive webinar you'll:
* Find out how to hook an audience quickly and make them want to pay attention.
* Learn the commonly used presentation technique that actually works against you in a webinar.
* Get examples of proper structure and flow for a marketing webinar.
* Hear much more practical advice on building engaging webinar presos.
Common mistakes made by sales people and how to avoid them - Juma WilliamJuma William
Selling products is like making a relationship. It needs deep understanding and listening skills. There is a difference between CONTACT and CONTRACT, which is R that stands for Relationship.
CLIENTS NEEDS:
1. Respect,
2. Genuine Product,
3. After sale's service
4. Feedback-ask how the product/service is?
5. Relationship-Continuous vibes.
Common mistakes made by sales people and how to avoid themJuma William
Selling products is like making a relationship. It needs deep understanding and listening skills. There is a difference between CONTACT and CONTRACT, which is R that stands for Relationship.
CLIENTS NEEDS:
1. Respect,
2. Genuine Product,
3. After sale's service
4. Feedback-ask how the product/service is?
5. Relationship-Continuous vibes.
Common mistakes made by sales people and how to avoid them juma williamJuma William
Selling products is like making a relationship. It needs deep understanding and listening skills. There is a difference between CONTACT and CONTRACT, which is R that stands for Relationship.
CLIENTS NEEDS:
1. Respect,
2. Genuine Product,
3. After sale's service
4. Feedback-ask how the product/service is?
5. Relationship-Continuous vibes.
When you need to compete on innovation rather than efficiency.
SUMMARY:
The confluence of two fundamental conditions is required to meaningfully spark the types of insights that drive your strategy and create viable products:
* Knowledge
* Imagination
This is being “innovation ready” and is essential to develop smart, thoughtful products that users want and customers will buy.
There are multiple frameworks and theories on product development. Some of the most astute and popular that have shaped our way of thinking and better enabled the start-up and large enterprise alike are:
* Lean Start-up
* Design Thinking
* Jobs-to-be-Done (JTBD)
* Agile
Extending on the collective wisdom of these frameworks, Innovation Ready focuses on the specific conditions necessary to develop the informed insights that drive meaningful product strategy. It's these moments of inspiration that ultimately shape and form our work and, at a minimum, de-risk our product development activities, but more boldly, enable us to deliver the next breakthrough product.
Table of Contents:
Foundation: Problem | Solution | Product
User Problem
Innovation Ready
Building Your Knowledge
User & Customer Needs
Market Dynamics
* Existing Solutions
* Behavior Analytics
* External Constraints
* Secondary Research/ Market Trends
Imagination
Business Model
* Lean Canvas
* Market Size
Iterating & Ideating Your Product
* Plan & Test
* Collect & Learn
* Ideate & Evolve
Minimum Viable / Lovable Product
Evaluation Checkpoints
Product-Market Fit
30 Entrepreneurs Share How They are Being DisruptiveCEO Blog Nation
For the past 20 years, the theory of disruptive innovation has been enormously influential in business circles and a powerful tool for predicting which industry entrants will succeed.
Similar to Lean Canvas: How To Create a Business Plan that People Will Actually Read (20)
Increase Trust in Your Processes: Introducing Custom BrandingQuekelsBaro
Process Street streamlines your team’s recurring work by taking the guesswork out of who does what and when, but the impact of even well-documented processes depends on people’s willingness to do their part.
SOC 2 Compliance and Our Continued Commitment to Data Security.pdfQuekelsBaro
SOC 2 is a set of criteria developed by the American Institute of CPAs (AICPA) to help assess the controls and systems a company has in place for handling customer data.
How to Find The Purpose of Your Business Through The Ikigai Concept.pdfQuekelsBaro
While Ikigai is generally applied to finding purpose in your personal life, this Process Street post will look at how the same 4 concepts can be applied to your business as well...
7 Ways to Welcome Your New Employee Like a ProQuekelsBaro
There’s a significant disconnect between what HR thinks their new hires want and what they actually want. How should you really welcome your new employees?
For International Women’s Day, we’d like to share with you just one (there are many) of the amazing women who make Process Street the great place that it is!
7 Must-Know Strategies for Pre-boarding New Hires like a Pro QuekelsBaro
Preparation is the key to a successful onboarding experience. Pre-boarding is your prep time that helps you gather everything you need before your new hire’s first day.
We Need to Talk About Your Employee Onboarding Process (& How to Fix It)QuekelsBaro
Onboarding is important. You need to make a good first impression. You need to have a consistent process. The thing is, though, it’s not what you do but how you do it.
8 Change Management Strategies for Effective Organizational Change QuekelsBaro
This post includes some tips for creating an effective change management strategy, possible methods you might want to implement, and how Process Street can help you along the way.
How to Choose the Best HRIS (Human Resources Information System)QuekelsBaro
Employees are vital to any organization; making sure their information is managed properly is just as, if not more important. This article breaks down HRIS and the best software for the job.
How 4 Top Startups are Reinventing Organizational Structure QuekelsBaro
This post will look at the organizational structure of four of the most successful startups out there and why they’ve opted to make the long-established hierarchical structure on its head.
AI & Data Analytics: 3 Ways They Can Improve Customer Experience And EngagementQuekelsBaro
Analytics, data, and AI have the potential to enrich marketers’ understanding of their customers’ experiences in order to deliver meaningful, relevant experiences in the future.
Client Onboarding 101 with Adam Schweickert of Wetmore Consulting GroupQuekelsBaro
Adam Schweickert, professional consultant at Wetmore Consulting Group, shows us how they handle their operations to get things up and running as quickly as possible.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
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Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
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India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...
Lean Canvas: How To Create a Business Plan that People Will Actually Read
1. 1/15
March 26, 2021
Lean Canvas: How To Create a Business Plan that People
Will Actually Read
process.st/lean-canvas
Amanda Greenwood
March 26, 2021
Everybody has a plan until they get punched in the mouth…
– Mike Tyson
Which, let’s face it, happens to most start-ups and entrepreneurs. Around 75% in fact.
You have the best idea. You spend days, weeks, and months perfecting a 40-page business
plan filled with five-year forecasts, 18-month roadmaps, and in-depth marketing strategies.
You confidently pitch it to stakeholders and investors.
And then?
Then you get punched in the mouth.
2. 2/15
Potential investors go quiet or “haven’t had time to read it” and you’re left with an expensive,
wasted deliverable and a chunk of time that you’ll never get back. Worse still, your product
isn’t any nearer launching and you haven’t secured any buy-in or investment.
What. A. Waste. Of. Time.
Traditional business plans are of little use to start-ups, and of no real interest to investors.
But what’s the alternative?
A one-page business plan inspired by Eric Ries’s Lean Start-Up methodology and specifically
designed for emerging entrepreneurs: The Lean Canvas.
The Lean Canvas is a living framework that allows you to quickly capture your idea or
concept, thoroughly validate it, and then continuously share, improve, and most importantly
move on it.
Ok, I know what you’re thinking:
I have the answers to all these questions and more in this Process Street post.
Ready to dodge some punches?
How can a one-page Lean Canvas possibly replace a 40-page
business plan?
Creating a detailed business plan (complete with comprehensive forecasts, roadmaps, and
strategies) and pitching it to investors has always been the first step new businesses and
entrepreneurs take to secure buy-in or investment, right?
But why?
Why business plans don’t work for start-ups
3. 3/15
Source
During the early stages of an idea or a business, all you really have is a strong belief, a clear
vision, and a lot of untested assumptions: You believe there’s a market for it. You think your
pricing will generate $X in revenue, and you hope your product roadmap will look a certain
way.
But you don’t really know. How can you? You haven’t tested the concept.
Of course, your business model might be based on similar businesses, products, or concepts,
which allow you to hypothesize the future. But you can’t provide any concrete proof or
evidence that your idea is going to work.
Which is surely the sole purpose of a business plan?
Plus, a business plan typically takes ages to write as it requires lots of detailed, accurate
information. And, it becomes obsolete incredibly quickly, as and when you encounter the
various operational and marketing challenges that inevitably arise.
So, instead of being a clear, factually accurate, representative proposition, a start-up’s
business plan tends to be a wishy-washy, out-of-date, speculative document.
And, what do investors, Angels, and stakeholders hate more than anything…? Exactly.
The alternative to speculative, inaccurate, & obsolete business plans
Start-ups face a vicious circle: You can’t prove your concept without investment, but you
can’t get investment without proof.
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The original concept of a business plan was to break this circle and give investors the
information they needed to justify a decision on whether to fund the idea or not.
But as we’ve already established, not only is a start-up’s business plan incredibly time-
consuming to create, it’s difficult to digest and full of guesses rather than reassuring facts. As
a result, all that hard work can often get bypassed by investors.
The answer to this dilemma is the Lean Canvas. The Lean Canvas is an actionable,
entrepreneur-focused, one-page business plan.
Inspired by Alex Osterwalder’s Business Model Canvas and the principles behind the Lean
Start-Up movement and eradication of waste, Ash Maurya developed the Lean Canvas
framework specifically for start-ups.
He felt that spending time creating a business plan that was often inaccurate, obsolete, and
ignored was unproductive and a wasteful.
“Waste is any human activity which absorbs resources but creates no value.” – James Womack,
Leanstack, Bootstrapping + Lean Startup = Low-burn Startup
So, he developed the Lean Canvas; a one-page, easy-to-digest document that:
1. Captures key investor-focused information that’s backed-up with proof;
2. Start-ups can complete quickly and iterate continuously.
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As you can see, the Lean Canvas is a set of nine blocks:
1. Customers
2. Problem
3. Solution
4. Channels
5. Value proposition
6. Unfair advantage
7. Revenue
8. Costs
9. Key metrics
Each block presents clear, concise, and accurate information in a digestible format. It takes
less time to complete, it’s easy to keep up-to-date, it gives investors the information they
need, and it paints a clear picture of the business or idea on one page (instead of 40).
What’s not to like?
How can I tell the entire story of my business on one-page?
OK, you get it: It’s a waste of time creating a semi-fictional business plan that won’t get read.
But, seriously? How can you convey how fantastic your idea is on one, single page?
To answer this, we’ll need to look at each of the nine components that make up the one-page
Lean Canvas framework.
Lean Canvas component #1: Customers ǑĝǑ
The first block to fill out is all about your customers. As you might do with a business plan,
you need to determine who your user base is and understand what makes them tick.
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Go deep and build up a customer profile for each group of customers you’re targeting. Get
under their skin and get to know them as people:
Who is your intended audience?
What type of person are they?
What are their likes, dislikes, and pain points?
What’s their average day like?
What makes them happy?
What frustrates them?
One thing you must do during this exercise is define who the early adopters of your product
are likely to be.
Identifying this group of people is essential because you can use them to validate your ideas.
Ask them questions, send them feedback surveys, and get them to trial your product. Collect
these valuable insights and use them to iterate your Lean Canvas, determine the direction
you take your product in, and justify your ideas.
Real customer opinions and feedback are valuable proof points that investors will trust.
Lean Canvas component #2: Problem Ǡ
The next step you need to take should be in the shoes of your customer. Walk a mile in your
customer’s shoes so you can identify the problems they might face with (and also without)
your product.
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Conduct interviews, carry out tests, or send out surveys to help you uncover the real issues
they’re likely to face or are already facing.
Interact with your product yourself, or ask an unrelated third party to give it a try. Consider
the experience from your customer’s point of view and objectively identify what works and
what doesn’t.
Take this back to your Lean Canvas and tweak your idea accordingly. Use it as evidence to
prove the concept you’re pitching.
Lean Canvas component #3: Solution ݗ
Next, you need to describe what your product is going to do. What will it solve? What’s the
ultimate vision?
You might feel that your product solves several problems and is the answer to everything.
But, remember, this needs to be clear and concise.
So, play around with each solution to see what sticks. Assess your features and capabilities,
carry out research, collect feedback, and brainstorm with your team so you can narrow it
down to one or two solid solutions that are grounded in evidence.
Lean Canvas component #4: Channels ӣ
How will your customers find your product? How will they come into contact with you or
your product?
List every single channel or touchpoint that you could use to get your product in front of your
audience.
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You might want to use a mixture of paid channels, like Facebook ads or trade fairs, and free
channels like SEO or blog posts. Create a content strategy to help you decide where best to
center your efforts and show investors that you’re able to provide the best experience to your
customers at every step of their journey.
Lean Canvas component #5: Value proposition ڡ
Write out a punchy statement that explains the core value of your product.
Think: Why would your target customer care about it? What will it do for them? What
problem does it solve? Why is it a better option than the competition?
Sell the end-benefit not the solution, and keep it short, catchy, and powerfully persuasive (eg.
the film ‘Alien’ isn’t a film about aliens, it’s “Jaws in Space”).
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Three words of warning though:
1. Don’t confuse a value proposition with a tacky slogan. For instance, M&M’s
“Melts in your mouth, not in your hand…” is a slogan, not a value proposition.
2. Don’t write a sentence that’s all hype and no substance. For example, “The
best product EVER made” is pure hype. There’s nothing to back it up and investors will
see straight through it.
3. Don’t use meaningless buzzwords or jargon. You might think that phrases like
“value-added interactions” make you sound like a prestigious expert, but they don’t.
They make you sound like a pretentious airhead.
This block is one of the most important ones to get right. Your value proposition is how
investors will see you and your product, and how they will describe you to other partners and
investors.
Lean Canvas component #6: Unfair advantage Ň
Whether you know it or not, you have an unfair advantage over your competitors. All you
have to do is find out what it is!
What makes you stand out? What puts you streets ahead of your competitors? What do you
have that others can’t replicate or acquire?
It might be your internal team; it might be in-depth knowledge or inside information; or it
could be your unique position within a community.
It’s there somewhere. Dig it out and put it on display.
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Lean Canvas component #7: Revenue Ұ
This is where you’ll need to identify the sources of income that will keep you and your
business afloat.
Create a simple pricing model and test it out on your early adopters. Does it work for them
and for you?
You might charge a subscription fee; you might generate income through advertising on your
platform; or maybe you’ll get customers to pay for their usage. Maybe it’s a combination of all
three!
Just remember to keep it as simple as possible, test it out, and keep iterating until it’s perfect.
Again, testing it out on early adopters backs up your concept.
Lean Canvas component #8: Costs Ҹ
I probably don’t need to tell you that over 90% of start-ups fail because they don’t consider
the proper costs of launching and running their business.
So, list all of your expenses.
Consider everything, from customer acquisition and retention costs, to distribution and
office overheads. And to make sure you don’t miss any key costs, work through each of the
nine blocks in your Lean Canvas and consider the costs that each might bring.
Lean Canvas component #9: Key metrics ӈ
To be able to prove the success of your product, you’ll need to set clear, easy to measure
metrics.
Outline what you plan to track and why.
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Identify the indicators that will demonstrate how well your company is doing. For instance,
you may choose to measure the number of users, downloads, or social followers you get; or
you may focus on retention figures, brand interactions, or costs, etc.
Fill in this section of your Lean Canvas with the metrics that are most critical to the problem
you’re trying to solve with your product.
Now you’ve seen what goes into a Lean Canvas, can you see how it’s possible to tell the whole
story of your business on one page?
Not quite?
Key things to remember when creating your Lean Canvas
The trick to creating an effective Lean Canvas that fits onto one page is to:
Fill in all 9 blocks in the above order and work your way through each one logically.
Fill each block with concise notes and link-out to images, documents, and other related
information.
Remember it’s a fluid, working document that’s not set in stone.
To test the Lean Canvas out before you share it with investors, go through each step and relay
the story to yourself:
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We will help [customers] solve [problem] by providing them with our [solution].
They will know about us through [channels] and they will be convinced to join us because
[value proposition] and because we [unfair advantage].
We will charge them by [revenue] which will cover our [costs].
We will measure our performance by tracking [key metrics].
It should all flow nicely, like a story where everything is linked. If it doesn’t, it needs more
work before you show it to investors.
Is a Lean Canvas really enough to help me secure investment or buy-
in?
But wait a minute. Don’t investors expect to see a business plan? Will they take a one-page
Lean Canvas seriously?
Why the Lean Canvas works for start-ups
The Lean Canvas is centered around validation and justification. It’s about working the idea
out, asking for feedback, and using that feedback to iterate your plan until your idea becomes
a valid one.
Your Lean Canvas then becomes living proof that your concept will work. Investors will value
proof of concept 10X more than 40 pages of empty promises and unfounded statements.
Not only that, but it’ll take you hours, not months to put together. So, if you get punched in
the mouth again, it’s no biggie. Just go back and rework it based on investor feedback.
And it’s quick and easy to update; it moves as you move, allows you to pivot, and it means
that you can get your product out to market quickly. These are all reliable indicators for VCs,
Angels, and investors that a start-up can take off.
“It lets you focus on building your business faster, by capturing your idea, collecting feedback,
and iterating on it dynamically.” – Infolio, How to Create a Lean Canvas
To prove the Lean Canvas concept even further, let’s take a look at it in action.
The Lean Canvas in action
Below are two hypothetical Lean Canvas examples from a couple of familiar companies who,
although it’s difficult to believe, were start-ups themselves once…!
Google
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In summary, Google’s Lean Canvas story (if the Lean Canvas existed back in 1998!) might
have gone a little like this:
We will help all web users to find what they’re searching for easily by providing them with
technology that allows them to search and find relevant content.
They will know about us through other users and they will be convinced to join us because
they’ll be able to find what they’re looking for quickly (unlike with competitors) and because
we have an innovative combined citation-ranking system.
We will make money through investment and advertising revenue which will cover our hosting
and development costs.
We will measure our performance by tracking the number of search requests and the
percentage of users who end their search on the first page.
Facebook
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And, Facebook’s Lean Canvas might have gone like this back in 2004:
We will help all college students to communciate with their peers online by creating an online
communication platform that will allow them to connect with their friends, share photos, and
chat.
They will know about us through referrals from other students and they will be convinced to
join us because it’s a student orientated communication platform and because we have
invented a new type of website: A social network with social features!
We will make money through investment and advertising revenue which will cover our hosting,
development, and payroll costs.
We will measure our performance by tracking the number of daily, weekly, and monthly active
users.
To conclude…
Despite the obvious benefits of the Lean Canvas, it has to be said that:
“A one-page document of this kind may not satisfy every potential investor at every financing
stage. But many investors will consider a document like this to be more than adequate.” –
BSchools, Can a Lean Canvas Replace a Traditional Business Plan?
I think we can all agree that the moral of this story is: don’t waste months agonizing over a
hefty business plan that no one is likely to read.
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Instead, create a Lean Canvas. Tell the story of your business with key information that’s up-
to-date and backed by research, testing, and customer proof. Get the ball rolling in one
afternoon, with one page.
Think of it this way, which would you rather do:
“Spend 6 months pitching investors so you can refine a story based on an untested product? Or,
spend time pitching customers so you can tell a credible story based on a tested product?” –
Ash Maurya, Leanstack, Bootstrapping + Lean Startup = Low-burn Startup
I’d rather roll with the punches with a Lean Canvas. You?