Reference no: EM133481180

Problem

Fill out the Lean Canvas Business plan for YOUR OWN business idea with 3 points/sentences in eachof the 9 boxes.

1) Problem Analysis - What are the 3 problems you are trying to solve via your products or services? Essentially, why does your company exist?

2) Customer segments - Who are your customers? (Targeted market, including size and demographics of thegroups)

3) Unique value proposition - What makes your product/service unique? Your philosophy and/or purpose. This guides your actions, spells out your overall goal, and guides decision-making.
Maximum 4-5 sentences on 1 page.

4) Solution - Describe your product/service in detail, focusing on the customer benefits. Answer the "why should I spend my hard-earned dollars on what you are selling?" question that all consumers are asking. What customer needs do youplan to satisfy? Should be directly connected to each Problem you stated previously. How are the "problems" your opportunity? *Extra points if you can articulate how your business also solves a social or environmental problem.

5) Unfair advantage - This is similar to your competitive advantage (i.e. - experience of your group members, costeffective business model - limited overhead, trendy concept, how you will protect your idea, i.e. through patents, copyrights) etc.? .

6) Revenue streams - How will you create a sustainable revenue stream? How will you price your products/services?

7) Cost structure - What are your expenses (fixed costs and variable costs)? How much will you take for income (basedon the legal form of your business - corporation, sole proprietorship, etc.) Answer: how many units (of product or service) will you need to sell in order to break even in one month? *Insert financial statement(s): Income Statement and Break-Even Analysis in appendices.

8) Key metrics - What are your main goals and objectives? How will you know when you have met them?

9) Channels - What is your "pathway to customers"?

Provide details about pricing, promotions and distribution; consider the "7 Ps" of marketing (Product, Price, Place, Package, Position, Promotion and People); Explain how you will attract target customers and penetrate the market (including types of sales promotions and advertising); Show your industry knowledge, and present conclusions based on market research. Add detailed findings of market research, as well as any marketing pieces you develop (i.e. logos, brand standards, flyers, social media, etc.) in appendix; Overview of operations and logistics (details about your retaillocation, distribution channels, sales strategies, etc.)