Good planning is at the core of every successful startup. We all know these statistics “95% of starting businesses that don’t have a business plan fail”. 9 out of 10 entrepreneurs know that a business plan is essential. But… Is it?
Why planning is more important than the plan itself?
This quote from Steve Blank sums up this point in case: “Business Plan: a document investors make you write, that they don’t read”. The experience of more and more entrepreneurs shows that having a precise plan of your business, done by the book, doesn’t help much in the real world… However, planning is of fundamental importance for business management and is one of the keys to success for every business entity. So, what is the solution?
Answer: Lean Canvas.
The idea behind Lean Canvas
The Lean Canvas is the perfect short format for brainstorming possible business models. It is structured in very logical steps starting with your customer problems right through to your unfair advantage and ending with your potential revenue streams.
Why Lean Canvas?
It is Fast, it is portable, it is concise, and it is effective.
Fast: The idea here is to spend around 15–20 minutes to get the first impression of your future business down on to paper (or on the whiteboard).
Portable: A single-page business model is much easier to share with others. Period.
Concise: You have 30 seconds to grab the attention of an investor, and 8 seconds to grab the attention of a customer on a landing page. Do you really need more arguments?
Effective: The key to sending the right message to your audience is structure. And Lean Canvas gives you a perfect example of a structure that works great for presenting your business idea.