Stage 1: Throw out the 80-page Business Plan and make it LEAN. In the past, we needed a big business plan to raise money and interest. Now, just the opposite. We are using the Lean Business Model to formulate a plan for creating a solution to a problem that a customer has. Based on "Running Lean", the video below will run you through the steps towards making a Lean Model.
Before starting the video, sign up at http://leanstack.com/ You are allowed 1 free project.
Before starting the video, sign up at http://leanstack.com/ You are allowed 1 free project.
STEP 1: Creating a Business Model
Create your group of three people
Decide who is going to be the CEO, the CFO, the CIO and (only in groups of four) the COO.
First, brainstorm a problem / challenge for which you can create a SOLUTION in the form of a product or service. This will take a lot of time. Concentrate on the PROBLEM. The SOLUTION might change as you go forward.
Next, the CEO should create an account and a project on a Lean Business Canvas at https://leanstack.com/ Share with your partners (you are allowed one product with a free plan on this site)
Now, follow this 20-minute video to create your own Business Model using your Lean Stack. (https://goo.gl/CuXAgI) You will be able to pause to complete each section of the Business Model. Don't worry - this model will change again and again during the process over the next couple of weeks.
Here is an example process: http://startangels.ch/downloads/LeanCanvasInstructions.pdf This document might help with certain areas as you watch the video and start to complete your model.
A couple of reminders:
This is the "why": https://youtu.be/LyX2UDhyiIo
Create your group of three people
Decide who is going to be the CEO, the CFO, the CIO and (only in groups of four) the COO.
First, brainstorm a problem / challenge for which you can create a SOLUTION in the form of a product or service. This will take a lot of time. Concentrate on the PROBLEM. The SOLUTION might change as you go forward.
Next, the CEO should create an account and a project on a Lean Business Canvas at https://leanstack.com/ Share with your partners (you are allowed one product with a free plan on this site)
Now, follow this 20-minute video to create your own Business Model using your Lean Stack. (https://goo.gl/CuXAgI) You will be able to pause to complete each section of the Business Model. Don't worry - this model will change again and again during the process over the next couple of weeks.
Here is an example process: http://startangels.ch/downloads/LeanCanvasInstructions.pdf This document might help with certain areas as you watch the video and start to complete your model.
A couple of reminders:
This is the "why": https://youtu.be/LyX2UDhyiIo
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Stage 2: Creating a Gantt Chart
Use a Project Management system, such as a Gantt Chart, to organise your strategy and your planning.
We will use gantter.com which is free, although if you want to use a template, you will need to buy one.
Use a Project Management system, such as a Gantt Chart, to organise your strategy and your planning.
We will use gantter.com which is free, although if you want to use a template, you will need to buy one.
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Remember Simon Sinek from the first unit? He said that if you are focusing on the "what" or the "how", you will not succeed. You need to concentrate on the "WHY".
What CHALLENGE are you meeting? What PROBLEM are you solving? Look at the video below on the left to understand one young woman's "why". Look at the video on the right to understand how members of a startup listened to customers and faced risks as ithey found their own solution. |
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