CHAPTER 2: THE LEAN BUSINESS MODEL CANVAS

NINE BUILDING BLOCKS - HOW TO BUILD YOUR MVP!

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Unique Value Proposition (Drip)

Your unique value proposition is a brief statement on what makes your solution so unique from your competition, why your business is fire, how you provide value to your customers, and why they would want to buy it from you and no one else

Keep it less than two sentences

What's so unique? Newness, Performance, Customization, Design, Brand, Price, Cost Reduction, or Accessibility.

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Key Metrics (Grades)

Grades are the key metrics that help you measure your performance, set short-term and long-term goals, demonstrate success, and take better datadriven decisions.

To help you set some grades, keep these things in mind:

What will you measure to determine if your business is making progress?

What are your top weekly, monthly and yearly goals?

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Revenue Streams (Bread)

Revenue Streams are the ways that your product or service is turned into financial gain A business model can involve three different types

Transaction revenues resulting from one-time customer payments.

Recurring revenues from ongoing payments to either sell to customers or provide postpurchase customer support Advertising and selling ads online

Gross profit margin is an important measure to assess a company's financial health by calculating the amount of money left over from sales after subtracting the costs. See formula below:

Gross Profit (Total Sales - Costs) =

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