develop a product idea without investing large sums of money. At this stage, the main task is to come up with a solution with a minimum of necessary options;
apply the template to a limited part of the target audience to test its relevance among a small circle of consumers;
get feedback and evaluate what the target audience liked and didn’t like about your product.
Repeat these steps until your product is in demand. If your MVP gets thailand cell phone number list a good response from consumers, then the business is successful. If the feedback is negative, make partial or complete adjustments.
Lean Canvas Mistakes
Wrong consumer segments
Many aspiring businessmen incorrectly define the audience of customer segments. It should be narrow, for example, not 6 million people, but 150 thousand.
Entering numbers instead of income and expense structure
The Cost Structure and Profit Streams sections of the spreadsheet should include information that shows indirect ways to maintain market demand for the product. The template is not a spreadsheet for numerical values. These can be entered into Excel, financial plans, or business cases.
Failure to maintain balance between profit and expenses
It is difficult for a beginning businessman to understand how much each stage of work costs. It is important to count the money invested in the business. In addition, in the "Cost Structure" section, it is necessary to take into account obvious and hidden costs, such as the entrepreneur's personal time.