Lean Canvas
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Transcript of Lean Canvas
![Page 1: Lean Canvas](https://reader035.fdocuments.us/reader035/viewer/2022062502/58a2c82f1a28ab217a8b615d/html5/thumbnails/1.jpg)
Lean Canvas
![Page 2: Lean Canvas](https://reader035.fdocuments.us/reader035/viewer/2022062502/58a2c82f1a28ab217a8b615d/html5/thumbnails/2.jpg)
Why use it?
• Find a plan that works before running out of resources
• Empirical testing
• Time is the scarcest resource
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![Page 4: Lean Canvas](https://reader035.fdocuments.us/reader035/viewer/2022062502/58a2c82f1a28ab217a8b615d/html5/thumbnails/4.jpg)
Customer Segments
1. Split broad customer segments into smaller ones
• Trying to market to everyone end up marketing to no one•Pick your strongest customer segment
![Page 5: Lean Canvas](https://reader035.fdocuments.us/reader035/viewer/2022062502/58a2c82f1a28ab217a8b615d/html5/thumbnails/5.jpg)
Example: CloudFire
•Photo and video sharing service•Ash Maurya’s past company
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Example: Possible Customers List
Really broad category: Anyone that shares lots of photos and videos
More Specific:• Photographers• Videographers• Graphic Designers• Architects• Doctors• Parents• Consumers
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Customer Segment
2. Distinguish between customers and users •Customers pay you, users don’t•Attract users - aim to convert some/all to paying customers •Users create value through participation
•Monetized through ads
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Example
Parents (customer)Family and
friends (viewers)
Parents with young kids
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Problem & Customer Segments
3. List TOP 3 problems for early adopters
Five Why’s•Starts w/ customer problem – surface level •Ask why this is a problem
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Example
Sharing photos and videos is hard
Why is this a problem?1. It’s time consuming2. There are lots of baby pictures 3. Organizing and uploading takes time4. Parents have no free time 5. There is a lot of external demand from family
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What is the job the customer is hiring you to do?• Customers hire your products to get a job done•Often the job is something they have been trying to do, but probably unsuccessfully
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Existing Alternatives
1.Describe your customer’s current reality
•What existing solutions/alternatives are they using today?•Doing nothing is also an alternative
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Example
• Sharing lots of photos/videos is time-consuming• Parents have no free
time• There is lots of external
demand on this content
Flickr Pro, SmugMug, Apple MobileMe, Facebook
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Solution, Unique Value Proposition, Revenue Streams• Minimum Viable Product = smallest solution that delivers customer value • Still solves a specific problem, but gets you paid as well
For each problem on your canvas:• Outline a specific solution• Craft your UVP around your #1 problem and finished
story benefit• Avoid empty marketing promises
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Example
•Instant, no-upload sharing•iPhoto/folder integration•Better notification tools
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Unique Value Proposition
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Example
• Get back to the more important things in your life. Faster.• Share your entire photo and video library in under 5 minutes
• Photo and video sharing without the uploading
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Revenue Streams
• Pricing is part of your product• Price relative to existing alternatives• Important to understand existing alternatives and position
solutions against them • Resist urge to create multiple pricing plans
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Example
30-day free trial then $49/yr
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Channels
•Path to customers•Don’t need to build scalable channels from day 1 •Start w/ outbound channels
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Channels
• Identify a few scalable channels you might employ• Inbound channels
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Examples
•Friends•Daycare•Birthday parties•AdWords•Facebook•Word of Mouth
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Key Metrics
•How you measure success•Think about KPI’s•Key numbers that tell you how your business is doing•Changes as your product moves through various stages
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Key Metrics
1. List the customer action that drives value• What key activity would you use to measure your
value proposition?• Ex. Twitter - posting tweet
2. How will you define success?• What will you need to achieve to make building the
product worthwhile? • Ex. Revenue target
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Example
Key Action: Sharing an album/video
Success metric: Build a $5M/yr business
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Cost Structure
•How you build enough runway for your product•Ballpark sizing of business model
1.Outline your fixed and variable cost2.Evaluate against your metric for success
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Example
Hosting costs = Heroku (currently $0)People costs – 40 hrs x $65/hr = $10k/mo
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Unfair Advantage
• Aka Competitive Advantage/Barriers to Entry• How will you defend against competition?
Bad Examples
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Good Examples
•Don’t create sustainable unfair advantage on their own • “A real unfair advantage is something that cannot be easily copied or bought.” - Jason Cohen, Founder WPEngine
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Example