Lean Canvas is a 1-page business plan template created by Ash Maurya that helps you deconstruct your idea into its key assumptions. It is adapted from Alex Osterwalder’s Business Model Canvas and optimized for Lean Startups. It replaces elaborate business plans with a single page business model.
According to Lean Stack business plans take too long to write, are seldom updated, and almost never read by others but documenting your hypotheses is key. Lean Canvas solves this problem using a 1-page business model that takes under 20 minutes to create.
It is fast compared to writing a business plan which can take several weeks or months, you can outline multiple possible business models on a canvas in one afternoon. It is effective whether you’re pitching investors or giving an update to your team or board, our built-in presenter tools allow you to effectively document and communicate your progress. It is concise as it forces you to distill the essence of your product and it is portable. A single page business model is much easier to share with others which means it will be read by more people and also more frequently updated.
Steve Mullen explains in one of his posts in Medium that as an entrepreneur, one of the most important tasks you can perform is getting your idea(s) out from your head into a tangible format so that you can communicate that with others. In the past, this usually meant a well-researched business plan, that would usually take weeks (more like months) to create.
He turns to the Lean Canvas to help him quickly formulate possible business models, product launches, campaigns and variations of, and communicate this with his stakeholders for what he calls the Lead Flow Method work. Having the Lean Canvas as a visual guide made the part of “communicating the model/idea” so much more effective — and he thinks it is the most valuable function of the tool.
Checkout other business canvases in our Canvas Database