My search for business plan templates has brought up a lot of boring templates that seem hard to adapt to anything other than the conventional business. But then I came across this great tool by Alexander Osterwalder the Business Model Canvas. I also just started reading the Lean Startup by Eric Ries and the two work brilliantly together. Its a simple tool and highly visual which is great for someone in the creative industry like myself . It shouldn’t be a static thing as Alexander Osterwalder explains in his talk at Stanford. You draw the business model, decide the key hypothesis and test them, which is where the Lean Startup principles start to come in.
If you have time check out the talk he gave at Stanford University, ecorner.
If not, the key points are;
1. Checklist- use the business model canvas to create map your business proposition and decide what your underlying hypothesis are
2. Story- explore strategies that use different sections of the canvas
3. Patterns- map out other business models (similar ones if possible) to understand how they work
4. Testing- create live experiments to test aspects and evolve the hypothesis
I’ve got my post it notes ready to go 🙂