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FAQs
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What is a lean canvas business model?
Lean Canvas is an adaptation of Business Model Canvas by Alexander Osterwalder which Ash Maurya created in the Lean Startup spirit (Fast, Concise and Effective startup). Lean Canvas promises an actionable and entrepreneur-focused business plan. It focuses on problems, solutions, key metrics and competitive advantages. -
What is a lean business?
Simply stated, a Lean business is a business that maximizes value while minimizing waste. A Lean business model focuses on improving processes across the value stream in order to eliminate waste and deliver optimized value to the customer. -
What is key metrics in lean canvas?
Your Lean Canvas should outline how you will measure success. Key Metrics allow you to track and evaluate the success of a specific business process. -
What is the difference between lean canvas and business model canvas?
The Lean Canvas is simpler and less complete than the Business Model Canvas. Whereas the Business Model Canvas tries for provide a complete model of a business, which can be used for testing and search in lean startups, the Lean Canvas is more focused on being a one page summary with "simple" business models. -
What does a business model canvas do?
Business Model Canvas is a strategic management and lean startup template for developing new or documenting existing business models. It is a visual chart with elements describing a firm's or product's value proposition, infrastructure, customers, and finances. -
How long does it take to capture a business idea using the Lean Canvas?
Capture your idea in 20 minutes versus 20 weeks Compared to writing a business plan which can take several weeks or months, you can outline multiple possible business models on a Lean Canvas in one afternoon. -
What is unfair advantage in lean canvas?
What is an Unfair Advantage? A real unfair advantage is something that cannot be easily copied or bought by your competitors. ... Being truly first to market is not an unfair advantage, but an unfair disadvantage. Not only do you have to build a great product, but you also have to build a great market for your product. -
What is the lean business model?
Definition: A lean business model is a business strategy that strives to eliminate waste in product and processes while satisfying customer wants. By satisfying customer wants, the business will receive more positive returns like increased sales and goodwill. -
How do I make my business lean?
Be ruthless. Nothing is sacred. ... Take a bottom-up approach. It's hard to become lean from the top down. ... Empower employees. Give up control and empower employees to change processes that aren't efficient. -
What are the benefits of lean manufacturing?
The Benefits of Lean Manufacturing. Lean manufacturing improves efficiency, reduces waste, and increases productivity. The benefits, therefore, are manifold: Increased product quality: Improved efficiency frees up employees and resources for innovation and quality control that would have previously been wasted. -
What are the disadvantages of lean production?
Disadvantages of Lean Manufacturing Equipment Failure - Lean has very little room for error. Equipment or labor failure can lead to major inconsistencies within lean and can make the entire operation fall behind. In other mass production facilities, employees could just move over to another machine if one went out.
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in the previous video we might go he's a vegan so he doesn't eat meat milk products or anything that comes from animals he also works at puzzler and he has noticed that the only way for a vegan to have lunch in the area is to prepare his own lunch box which usually is a drag so he had an idea what if there was a lunch restaurant serving vegan food in puzzler is there demand would people come can he make money let's take a look what his idea would look like as a lean cannabis what we have here is a bland clean canvas let's start by giving this idea named vegan restaurant in puzzle next we can go ahead and specify who the customers would be vegans naturally but they also would probably need to live or work in puzzler and to further narrow down the first customers back it's easiest for Joe to first figure out if other people like him share his problem this is good idea since keeping the first customer definition narrow dramatically helps the next steps and you can always broaden the audience once there's traction so maybe 25 35 years old and with reasonably high income done next up the problem Joe already knows that there are no restaurants in puzzler serving vegan food and at least for himself it's really annoying to prepare your own lunch every day what could be the ingredients of the solution Joe thinks that his customers would appreciate good quality food and also the restaurant would obviously have to be nearby the pasilla office complexes and also the service should be quick since usually people have tight schedules during the work days the unique value proposition should boil down how you're different from everybody else and what you're worth paying attention to in this case it's quite easy to be the best when you're the only one for the unfair advantage Joe's brother happens to be a chef and a vegan himself plus he is also interested in opening his own restaurant making vegan food taste exquisite is no simple task so it's definitely hard to copy channels how can Joe raise 25 to 35 year-old vegans who work in puzzle outdoor ads near workplaces obviously where else are vegans using that time they gonna follow me for one Facebook groups Facebook even lets you target advertisements by age interest location and so on Joe also things that word of mouth has a crucial role in this customer segment as matrix it's good to have numbers that are actionable and react quickly joe chooses metrics that tell him if his solution box is working for example number of returning customers really tell him if people are finding value in in solution other metrics that he chooses are quality of food and average turnaround time at this stage costs and revenue are best to be left really rough since all of this is just best guesses one good tactic is to estimate the customer acquisition cost and the lifetime value for one customer so how much would it cost to get one customer through the door and how much would they be bringing money in over their entire customer ship Joe's estimate is that it would take 19 euros on average to get one customer and one customer would visit 30 times on average and paid 12 euros for each lunch that adds up as 19 X as the LTV CAC multiplier which is in a good territory it's good to highlight that all of this is just an educated best guess at this stage to validate whether the cannabis has anything to do with reality Joe will make a series of MVP tests to turn those yellow traffic lights either green or red in the next video we will take a look at those MVPs and record our learnings using innovation accounting
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