This article is the continuation of our previous post, 3 tools towards finding your positioning
2. Lean Canvas.
Lean Canvas is the English name of a business model canvas frequently used by entrepreneurs. If you are an entrepreneur and you are not yet familiar with this tool, this is the time. If you work as a project manager for a company, this tool, in addition to helping you find your position, can also help you keep under the radar some key elements of how your project works as a business.
On this canvas, entrepreneurs usually explain their business model to potential investors and other collaborators such as direct workers, and it is often very useful when your business creates its own market or when you are adapting an existing model in another market to the local market or to a smaller market.
Before explaining how you should fill out a Lean Canvas we want to explain how it is composed.
The canvas is made up of two areas that define the internal and external functioning of the business, and in the middle there is a shared area called the Unique Value Proposition ( Unique Value Proposition ), your objective is to find that unique value proposition since it will come out of it; or she herself will be; your positioning, and then make sure that it is consistent with the information described in each area. To begin to describe the information of your business model, use the following order that seeks to minimize three types of risks (taken from The Lean Stack Blog) , the risks related to the product, the risks related to the client and the risk related to the market.
The red line describes the risk of the product:
1. Describe the top three problems your customers have or that your product solves. Make sure you have problems worth solving.
2. Describe the solution to each problem in the simplest way possible.
3. Describe what added value that solution offers, why is your solution to the problem more valuable? (remember you still have to validate so you’re not done yet).
4. What metrics are key to knowing that your client finds value in your proposal? What data tells you that your business is doing well?
The black line describes the risks with the client:
1. What are your customer segments? Define them all if there are several and create profiles for each of them, they will be very useful while you build your business or project.
2. Who are the people who would ideally buy your product or who would undoubtedly be the first to try it.
3. Through which channels are you going to present your Unique Value Proposition (the middle box) to your customers, first think about the channels that should be promoted such as your website, lines or points of attention, or emails.
4. In the digital age, channels work in two ways, so as the next step, raise the channels through which you will Inbound Marketing , the faster you describe them, the better.
The gray line describes the market risks:
1. Identify the current solutions that are in the market for the same problems that you already identified, if possible also write down prices.
2. Optimize the price of your solution according to what your customers say in the first place.
3. In the second instance, optimize your prices according to what your customers do.
4. Optimize your cost structure against what your customers are paying, to make it work.
By now your Lean Canvas is almost ready, there are only two things left: fill in the last space called Unfair Advantage and verify that your Canvas is consistent . An unfair advantage is something that cannot be easily copied or bought, such as a patent or a robust and extensive code, this advantage and your Unique Value Proposition must support each of the solutions you offer to the problems that your clients have and As expected, your cost structure should support the entire operation.
Once your canvas is prepared, show it to your clients and collaborators and collect information to make it clearer for everyone, take special care in your Unique Value Proposition, since the simpler it is This clearer and more powerful proposal will be your positioning, if you manage to define your model very well you will realize how your ability to describe your business will improve to the point of being able to build what in the midst of entrepreneurship is called a pitch em> or elevator pitch , a short way to describe your business in an elevator conversation.
If you need help defining your Unique Value Proposition you can also hire a copywriter, someone who is good with words to do a reduction process, if you need help try to put us to the test , click the button and send us an email. This article continues …