Business Design: for a small business idea

Aug 25, 2022

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Episode 3: Key takeaways

Are you always thinking of business ideas, naturally entrepreneurial and see opportunities everywhere? I do – Some I begin to gradually explore deeper, others I trash out quickly. How do I do that back of the envelop thinking helps me weed out feasible, viable and desirable concepts from bad personal investments?

Each time my mind works intuitively and systematically as a business designer, skills I have learned over time very similar to a Lean canvas.

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.

The components of this business idea using Lean and Business Model Canvas

Customer behaviour
Why/problem
Value prop
Solution
Channels

Exploring the Commercial model

Price and cost
Marketing and channels
Retail sales and margin
Annual earnings

Looked too good to be true – what was missing in my business model design?

When working through the Lean Canvas, it ticked all the boxes on desirability, feasibility, viability. It ticked all the boxes on customers, channels, product, problem, solution. Ticked all the boxes as unique, validated examples and doable as a one-person business.

Next layer – time to scratch deeper using the Business Model Canvas

Explore key resources
Explore key activities – what would I be doing?
Spotting the gap
Considering the options

Making a decision on this business idea …

This business idea was not an innovation but a means to provide merchandise for the Australian Silo Art Trail, which I decided not to do. Please visit this amazing trail and support local communities along the way! https://www.australiansiloarttrail.com/

Painted silo by artist Adnate at Sheep Hill, Victoria

Segment: Recommended reading …

Question: what is the difference between lean and business model canvas?

https://blog.leanstack.com/why-lean-canvas-vs-business-model-canvas/

Ash Mayura: “Design Goals: My main objective with Lean Canvas was making it as actionable as possible while staying entrepreneur-focused. The metaphor I had in mind was that of a grounds-up tactical plan or blueprint that guided the entrepreneur as they navigated their way from ideation to building a successful startup.“