Google hosts Eric Ries author of, “The Lean Startup” The Lean Startup movement is taking hold in companies both new and established to help entrepreneurs and managers do one important thing: make better, faster business decisions. Vastly better, faster business decisions. Bringing principles from lean manufacturing and agile development to the process of innovation, the Lean Startup helps companies succeed in a business landscape riddled with risk. This book shows you how. Eric is the author of the popular blog Startup Lessons Learned and the creator of the Lean Startup methodology. He co-founded and served as CTO of IMVU, his third startup, which has today has over 40 million users and 2009 revenue over $22 million. An entrepreneur in residence at Harvard Business School and a frequent speaker at business events, he advises startups on business and product strategy using the Lean Startup approach. http://theleanstartup.com/ Order the book here: http://lean.st/orders/new
Category Archives: lean
The Business Model Canvas – 9 Steps to Creating a Successful Business Model – Startup Tips
The Business Model Canvas – 9 Steps to Creating a Successful Business Model – Startup Tips
The Business Model Canvas – 9 Steps to Creating a Successful Business Model – Startup Tips
The Business Model Canvas, is a strategic management and entrepreneurial tool. It allows you to describe, design, challenge, invent, and pivot your business model.
The Business Model Canvas is comprised of 9 key segments:
The left hand section of the Business Model Canvas is the Infrastructure section and comprises three key areas:
Key Activities: The most important activities in executing a company’s value proposition.
Key Resources: The resources that are necessary to create value for the customer.
Partner Network: In order to optimize operations and reduce risks of a business model, organization usually cultivate buyer-supplier relationships so they can focus on their core activity.
The middle section of the canvas describes the business offering and is the value proposition delivered to different customer segments.
Value Propositions: The collection of products and services a business offers to meet the needs of its customers. According to Osterwalder, (2004), a company’s value proposition is what distinguishes itself from its competitors. The value proposition provides value through various elements such as newness, performance, customization, “getting the job done”, design, brand/status, price, cost reduction, risk reduction, accessibility, and convenience/usability.
The value propositions may be:
Quantitative – price and efficiency
Qualitative – overall customer experience and outcome
The right hand side of the Business Model Canvas describes the customers, the channels through which you deliver services and and the relationships you have with your customers.
Customer Segments: To build an effective business model, a company must identify which customers it tries to serve. Various sets of customers can be segmented based on the different needs and attributes to ensure appropriate implementation of corporate strategy meets the characteristics of selected group of clients.
Channels: A company can deliver its value proposition to its targeted customers through different channels. Effective channels will distribute a company’s value proposition in ways that are fast, efficient and cost effective. An organization can reach its clients either through its own channels (store front), partner channels (major distributors), or a combination of both.
Customer Relationships: To ensure the survival and success of any businesses, companies must identify the type of relationship they want to create with their customer segments.
The bottom section of the canvas describes the finances.
Cost Structure: This describes the most important monetary consequences while operating under different business models. A company’s DOC.
Revenue Streams: The way a company makes income from each customer segment.
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Check out some of our other videos
Compensation claims – how long should it take https://youtu.be/NuxfrgSTg78
LLC vs S Corp https://youtu.be/4xNCnf9hitw
Minizing tax https://youtu.be/ybSnFb6rx6Y
How to fund a startup https://youtu.be/ctzDb59sw5M
Kickstarter success Ep 1 https://youtu.be/2EG78JNZ7nA
Kickstarter success Ep 2 https://youtu.be/ZMlq5CmUNz8
How to pitch to investors with Guy Kawasaki https://youtu.be/-epR-uGlv4M
If you are interested in sustainability issues then check this video out
The Sustainable Business Model Canvas https://youtu.be/gVimMEI2u2w
See business model case studies here
The Lean Canvas Business Model – Creating The Killer Business Plan
The Lean Canvas Business Model – Creating The Killer Business Plan
How to Create Your Lean Canvas
The foundation of every business, whether seeking funding or simply planning for the future, is to create a killer business plan that slays the competition. Let Kyle Murphy, an Entrepreneurship Lecturer at Pepperdine University, teach you everything you need to know about your business income statements, cash flows, marketing & sales and more. Create a winning pitch deck that will blow prospective investors away, and learn the secrets from entrepreneurs who’ve been there.
For more information and resources, be sure to check out
There you’ll have access to an array of valuable tools to help you start and grow a business.
And for additional video courses, check out
THE LEAN STARTUP SUMMARY (BY ERIC RIES)
THE LEAN STARTUP SUMMARY (BY ERIC RIES)