Running Lean

There are three basic business model archetypes: direct, multisided, and marketplace. If you find yourself mixing multiple types of models on one Lean Canvas, split them into separate canvases. Let’s take a look at each.

Once you define your MSC, use this to filter out your most promising idea(s). In other words, don’t start with an idea and ask how big it could get; start with your MSC, and ask if your idea can deliver on your goal.

He then assured the audience that Apple didn’t listen to the pundits and had worked really hard to introduce the iPad not at a starting price of $999, but 499. The whole room burst into applause as they celebrated the possibility of buying a $500 device. You probably recognize this tactic as price anchoring, where you prime customers with a high pr

a build-first or investor-first approach is backward.

Answer what, who, and why A good UVP needs to clearly describe what your product is for and who it’s for. The “why” is often hard to fit into the same statement, so a sub-headline is often used for this. Here’s an example: Product: Lean Canvas Headline: Communicate Your Idea Clearly and Concisely to Key Stakeholders. Sub-headline: A Lean Canvas rep

When designing any campaign, it helps to consider these seven questions: Discovery: Is there an underlying problem worth solving? Acquisition: Are enough people interested/impacted? Activation: Does it deliver value? Retention: Do people come back? Revenue: What’s the impact (on revenue or some other meaningful metric)? Referral: Do people tell oth

Operating under conditions of extreme uncertainty is the reason often cited for this low rate of success, and also why the journey prior to product/market fit is often described as aimless wandering

The second anchor comes from the cost of the existing alternatives. In other words, how much time, money, and effort are customers currently spending on getting the job done? If your UVP is indeed better, you can stand to charge a premium, but be wary that customers will always compare your product against the existing alternatives. This anchor typ

This was the missing aha moment that reinforced the action of brushing teeth—the push people needed to come back and brush their teeth again the next day, and then the day after. With each subsequent brushing, their teeth got progressively healthier, and the habit of daily brushing stuck.