The document discusses an approach called Lean Innovation to reduce the failure rate of new products. It recommends three steps: 1) Document your initial business plan or "Plan A", 2) Identify the riskiest assumptions in the plan, and 3) Systematically test those assumptions through experiments to validate problems and solutions with customers before building the full product. This approach advocates searching for the right solution instead of executing prematurely on ideas without customer validation. It also recommends scaling ideas in stages through three phases: problem/solution fit, product/market fit, and scale.
4. Here are a dozen reasons
1. No funding
2. Poor team
3. Poor product
4. Bad timing
5. No customers
6. Competition
7. Lack of focus
8. Lack of passion
9. Bad location
10. Not profitable
11. Burn out
12. Legal issues
31. Problem
Top 3 problems
Solution
Top 3 features
Unique Value
Proposition
Single, clear,
compelling message
that states why you
are different and
worth paying
attention
Unfair Advantage
Can’t be easily
copied or bought
Customer
Segments
Target customers
Key Metrics
Key activities you
measure
Channels
Path to customers
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
People, etc.
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Lean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution-
Share Alike 3.0 Un-ported License.
PRODUCT MARKET
32.
33.
34.
35. Problem
Top 3 problems
Solution
Top 3 features
Unique Value
Proposition
Single, clear,
compelling message
that states why you
are different and
worth paying
attention
Unfair Advantage
Can’t be easily
copied or bought
Customer
Segments
Target customers
Key Metrics
Key activities you
measure
Channels
Path to customers
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
People, etc.
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Lean Canvas is adapted from The Business Model Canvas (http://www.businessmodelgeneration.com) and is licensed under the Creative Commons Attribution-
Share Alike 3.0 Un-ported License.
PRODUCT MARKET
71. Document
your Plan A
Identify riskiest
parts of your plan
Systematically test
your plan
Understand
Problem
Define
Solution
Problem/Solution
Fit
Time
72. Document
your Plan A
Identify riskiest
parts of your plan
Systematically test
your plan
Understand
Problem
Define
Solution
Problem/Solution
Fit
Time
73. Document
your Plan A
Identify riskiest
parts of your plan
Systematically test
your plan
Understand
Problem
Define
Solution
Problem/Solution
Fit
Validate
Qualitatively
Time
Product/Market
Fit
74. Document
your Plan A
Identify riskiest
parts of your plan
Systematically test
your plan
Understand
Problem
Define
Solution
Problem/Solution
Fit
Validate
Qualitatively
Scale
Verify
Quantitatively
Time
Product/Market
Fit
75. Document
your Plan A
Identify riskiest
parts of your plan
Systematically test
your plan
Understand
Problem
Define
Solution
Problem/Solution
Fit
Validate
Qualitatively
Scale
Verify
Quantitatively
Time
Product/Market
Fit