Stage 2:
Business Plan
The first step towards making your vision a reality is to convert it into a business plan.
As with all plans, there is as much value in the thinking process as the output. Plans will always change when exposed to reality.
Purpose
Develop a Lean Canvas that can inform a business plan.
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Both will guide you now and in the future.
Steps
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Translate your vision into a Lean Canvas
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Test your Canvas on others.
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Review feedback, then either:
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Continue
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Refine your Canvas
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Find another idea
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Develop a formal business plan.
Target
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A Lean Canvas that offers the concepts for a business plan.
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A business plan to share with potential investors.
Create A Business Plan
Design your business.
Start by creating a Lean Canvas
that summarizes the key elements of your business, and is a great basis for a Business Plan.
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Creating a Lean Canvas will help you:
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Think more deeply about customers' needs.
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Model business revenue and costs.
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Write a business plan.
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The Lean Canvas guides the thinking process, while the Business Plan crystallizes your thinking.
Decide: Is Your Business Plan Sound?
Make a conscious decision about your Business Plan.
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If the idea hasn't been well received by your audience, stop and decide if your business vision is strong enough to invest time and money in.​
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If you choose to commit, go to Business Metrics, the next Framework stage, where you choose how to measure the success of your business.
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Quitting now is not a failure, it's an opportunity to try something else while you still have energy and resources to spare.