Point 4. Resolve Your Business Model With A Lean Canvas
Originally created by Ash Maurya, the lean canvas outlines more of a "problem-focused" plan whereas the business model canvas (by Alexander Osterwalder)outlines several methods which form the building blocks for the listed business activities.
Not every business can solely rely on a Lean Canvas as their only business model.
The Lean Canvas is best for:
smaller, low overhead businesses
Sometimes, later down the line and with new, larger goals being set, it's a good idea to revamp your plan. And, sometimes, follow a standard business model canvas.
The lean canvas helps you identify what you know and what you don't know with your business, and compile it all into an organized, one-page model.
Set a timer for 20 minutes and plug in as much information from the previous segments that you can. Whatever info you couldn't come up with, just leave those blank for now.
The first lean canvas model will serve as your Plan A.
A few businesses may benefit from creating multiple Plan A's to prepare for different first-year goals and outcomes.
After you get your feet wet, you'll find that Plan A was a good start however, a Plan B is necessary to better define your [now] more experienced goals.
And instead of having to deal with a lengthy, extensive business model for your first canvas model, you'll be able to define your new one-page Plan B more efficiently for a stronger and more viable plan.