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Do you know your business plan?

An interesting thought, if you were asked to put down nine important metrics to describe your business could you do it in 20 minutes? The metrics in question:

  1. The problem we are trying to solve
  2. Target customers and users
  3. Our unique value proposition
  4. Our solution
  5. Channels
  6. Revenue streams
  7. Cost structure
  8. Key metrics
  9. Our unfair advantage (something that can’t be easily copied or bought)

I really like this concept: spending weeks putting together hundred page document with random financial assumptions. The concept is simple:

Maurya emphasizes the need to develop a testable business model quickly. Maurya (who wrote “Running Lean”) instead has developed a lean business model canvas (free to join) that allows you to put the key elements of your business model on a single sheet of paper in 20 minutes.┬áSounds extensive, right? You might be thinking: It’s not possible to get all that down on paper in 20 minutes.

Unsure about your business model? Try this and validate or move on.

Source (Inc.com)

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