Lean Canvas

Monday, March 25, Entrepreneurship

Hey, all! I hope you enjoyed spring break and had some fun. We’re going to ease back into work in the DMI Capstone class Monday night.

I’ll introduce you to the Lean Canvas, created by Austin entrepreneur Ash Maurya. He was inspired by the Lean Startup ideas of entrepreneur Eric Reis and a venture capital investor, Steve Blank, and got a front-row seat to a bunch of startups. He saw some patterns in successful companies:

  • A minimalist start;
  • Laser focus on their customer;
  • Instant, constant customer feedback;
  • Reiteration (meaning a willingness and ability to make changes)

That led to Lean Startup and Lean Canvas, tools to help entrepreneurs succeed from the very beginning.

First, I want you to read Chapter 2, Create Your Lean Canvas, from the book Running Lean (only Chapter 2, pages 37 to 76).

Here’s what the Lean Canvas looks like and I’ll send you a link on Slack Monday to access Lean Canvas online.

Also, read these 2 short features I stumbled across in Entrepreneur Magazine:

Sometimes the right move for a startup is to take a collaborator, like a supplier or customer, and make them a partner, instead. These three women entrepreneurs did just that.

And this article is about the importance of clear, well thought-out goals: Funding, audience, collaborators – a clear, well-researched plan.

EVERYONE needs to be in attendance this Monday night in class, because you’ll do three things:

1) Take half an hour, or so, to evaluate and critique one classmate’s portfolio site (I’ll share the assignments and site access in class);

2) Listen to me introduce Lean Canvas for a bit;

3) Apply the Lean Canvas to your group projects.

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