How to create a Lean Canvas (with template)

The Lean Canvas, developed by Ash Maurya, is a strategic product management template designed to simplify the process of developing a new business by focusing on essential aspects in a single, visual document. Unlike traditional business plans, which can be cumbersome and overwhelming, the Lean Canvas emphasizes a strategic approach to decision-making through iteration, learning, and adaptation. It consists of nine key elements, including customer segments, problem, unique value proposition, solution, channels, revenue streams, cost structure, key metrics, and unfair advantage, providing a comprehensive overview of a business idea from conception to maturity. The Lean Canvas differs from the business model canvas, which emphasizes the operational aspects of an existing business, making the Lean Canvas more suitable for early-stage development or pre-market launch. The article suggests that combining both canvases can be beneficial, depending on the business's goals, and highlights the importance of collaboration and continuous refinement to ensure a viable and effective business model.