Module 3: Prototyping, Testing & Experimentation
Business Model & Lean Canvas
With those prototypes and tests, we looked at different aspects of your idea and validated them one after another. But to have a running business in the long term, it is essential to also prototype your Business Model. The Business Model Canvas or Lean Canvas are two well-known tools that help you connect the many different aspects of a successful business.
Both Canvases are a strategic management asset to describe, design, and invent business models. They provide a visual representation of the main aspects that define how an enterprise creates, delivers and captures value. Those aspects are summarized in 9 different categories. The Business Model Canvas starts with aligning the Value Proposition with the Customer Segments. The Lean Canvas sets a focus on a Problem-Solution fit.
Using those frameworks even in a early prototyping phase of a project, helps to identify more underlying assumptions of your idea. You shift focus and are able to see if the different elements of your business model are connecting well with each other or if you even considered all of them.This gives you a basic indication whether or not your business idea is able to survive and grow.