Lean Canvas Template. Everything you need to know to implement it successfully

Are you thinking about starting a business and have no idea where to begin? We know it can be really overwhelming. Fortunately, people who’ve gone through this situation before have taken charge of developing models and tools that make the task much easier

One of these tools is the Lean Canvas template. Have you heard of it? Well, stick around because we’re going to tell you how you can make the most of this tool in order to analyze the business model you have in mind

Are you ready? Let’s begin!

What is the Lean Canvas template?

The Lean Canvas template is a model developed by Design Thinking experts,  that allows us to analyze and have at glance our business model in one place.

The purpose of working with the Lean Canvas template is that it allows us to react quickly and take action. It helps us visualize what the problems in our business might be, in order to make decisions about them and make a change when things are not giving the results we expect. 

How is the Lean Canvas made up?

Whether we already have a business up and running or we are in the process of creating one, this tool is very useful. Let’s see how the template is made up.

Problem

In this section we must complete using a only a few words: what is the problem our business solves? What is its raison d'être? Define a maximum of three problems. 

Solution 

Now that we know what problem our business solves, we must think about what solution we are offering to that problem with our product or service. Describe briefly what are the characteristics of the solution you offer. 

Customer segments

What people are you providing with these solutions? Here, it’s important to detect the characteristics of those people that can become early adopters for our business, especially if it is a service or a product that hasn’t been launched to the market yet. 

Unique value proposition

And now… What makes you different in the market? What is your differential benefit? Why would your potential clients choose you over other similar options?

Unique or special advantage

Just as you have a unique value proposition, you must also find out what your unique advantage is. The one that gets you one step ahead of your competitors. 

Channels 

Channels are those through which you’ll reach your potential customers. What channels should you take into account here? Well, those where your customers are. They can be traditional media, social media, etc. 

Cost structure

Here we must take into account all the costs we have as a business, whether they are personnel costs, customer acquisition costs, tools and software we use to work, among others. 

Revenue stream 

Here we must consider how the money comes into our business. Do we have a subscription? What is the mode of purchase? 

Key metrics

Last but not least, we must consider what will be the key metrics we will use to guide us and to analyze the performance of our strategies. 

Step by step to use the Lean Canvas with a real example 

Now that we know what the components of our Lean Canvas template are, let's see with a real example how we can complete it. 

Let's imagine that we want to launch a new app on the market that helps vegans to find recipes and foods suitable for their consumption in areas close to their home.  Then, we start to complete our template as follows: 

• Problem:  Our potential customer finds it very difficult to get vegan food close to home. He/she wastes too much time looking for stores that sell what he needs. 

• Solution: an app that quickly locates vegan products according to his/her location. 

• Customer segments: men and women between 25 and 35 years old, vegan and living in large urban areas. 

• Unique value proposition: we offer practical recipes and a community of vegans to interact and exchange information on the app. 

• Unique or special advantage: there is no other app with the same features in the market. 

• Channels: Instagram and Youtube.

• Cost structure: salaries, hosting, design, logistics, office materials, advertising. 

• Revenue stream: a premium plan to be paid by subscription to access exclusive content.  

• Key metrics:  CAC and CLTV. 

Now it's your turn! Following this example, you will be able to think about the characteristics of your business model. Don't waste any more time!