What is the “lean canvas model”

"lean canvas model"Lean canvas model is generally refers to a business model that is a very smart and elaborate one. It does not look like traditional business model with more detailed discussion. Instead, it is one of the simplest ones that touches on the most basic business components. It helps you understand your business at the beginning level. You reflect each part of your business through this model and have clear understanding as to how your business is going to look like. We have to remember this model is for particularly for the startups. The model gets even bigger and more convoluted as the business develops over a certain period of time.

Lean canvas business model has basically nine components where you put your put your basic business ideas and information. In other words, in each part you reflect your concept of your business. It is like the initial sketch of the business. Let us discuss each of the nine boxes that carries specific business strategies.

Box number one contains Customer Segment where you have to mention your target customer. It also has Early Adopter option where you mention the name of your basic customer base. The second box has two blanks to be filled in i.e. Problem and Existing Alternatives. You can put mention the product alternatives in the latter box. In the third box you need to mention Unique Value Proposition which can declare the moto of the company that would trigger your customers to make buying decision. Number four and five contain Solution and Channels. In box number six you need to mention Revenue Streams, meaning the sources of your revenue. Box number seven requires information regarding cost structure. Box number eight and nine has Key Metric an Unfair Advantage.

This is not the entire business plan, rather just a bunch of assumption as to what you think what your business would be.

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