Lean Canvas Business Model- Lean Canvas Word Template Example

Lean Canvas Business Model, Lean Canvas Word Template & Example. Lean Canvas Model. Also, Lean Canvas Word Template, Lean Canvas Example, Lean Canvas Elements, Lean Business Model.

Lean Canvas Model

The Lean Canvas model refers to a business plan template outlining nine essential elements of the new business. In 2010, Ash Maurya developed the one-page business template and termed it the Lean Canvas Model. The lean canvas model assists entrepreneurship in pre-assume the nine essential critical ideas related to the Business.

Lean Canvas is adapted from Business Model Canvas introduced by Alex Osterwalder in 2005. Therefore, the lean canvas model is also known as the Lean Canvas Business Model.  The alternative names of the Lean Canvas are the Lean Canvas Model, Lean Business Canvas, Lean Business Model, Lean Startup Canvas, and Lean Canvas Online.

Lean Canvas Business Model

Lean canvas business model refers to a one-page business plan template describing nine key idea elements related to the market: problem, solution, unique value proposition, unfair advantage, customer segments, key metrics, channels, cost structure, and revenue structure. However, the additional elements of the lean canvas model are existing alternatives, high-level concepts, and early adopters. It replaces detailed business plans with a concise and single-page business template. 

History of the Lean Business Model

Lean Canvas Business Model is adopted from Business Model Canvas and Business Model Canvas was adapted from Business Model Ontology. In 2004, Alex Osterwalder introduced Business Model Ontology for digital business. After one year, In 2005, he introduced the Business Model Canvas based on the previous theory “Business Model Ontology.” In 2010, Ash Maurya introduced the Lean Canvas model for entrepreneurship to start a new business with concise information regarding the business, including problem, solution,  target audiences, competitors, and so more.

Lean Canvas Example – Word File Download Link

Lean Canvas Word Template

Lean Canvas Business Model- Lean Canvas Word Template Example
Figure 1: Lean Model Canvas
How to Fill Out a Lean Canvas
Lean Canvas Business Model- Lean Canvas Word Template Example
Figure 2: Instruction To Fill out Lean Model Canvas

lean canvas business model example

BambooS- An Eco-Friendly Company in Malaysia

BambooS is an environment-friendly company in Malaysia that produces bamboo straws. Nowadays, restaurants do not provide plastic straws due to polluting the ocean extremely. So, the BambooS has come up with straw made by Bamboo. These products are cheap, portable, reusable, and decomposable. The government of many countries, including Malaysia, has given directives to reduce the use of plastic. Therefore, many restaurants, including McDonald’s, KFC, PizzaHut, and Nando’s, do not provide plastic straws. It is really difficult to drink juice without a straw; hence BambooS has started to sell portable and reuseable bamboo straw.

It is an example of a Lean Canvas template filled out by BambooS, an eco-friendly company in Malaysia. The student at University Putra Malaysia students completes these lean startups for assignment purposes. However, entrepreneurship also follows the same instructions to complete the lean canvas template. Hopefully, it will assist you in obtaining ideas on how to fill out a lean canvas.

Lean Canvas Business Model- Lean Canvas Word Template Example

The Lean Canvas example will help you to know how to fill the lean canvas word template. The author has attached a blank and filled lean canvas word template for entrepreneurship. It will definitely assist the new businessmen to start new business wisely.

The 9 Elements of the Lean Canvas Business Model are:
  1. Problem
  2. Solution
  3. Unique Value Proposition
  4. Unfair Advantage
  5. Customer Segments
  6. Key Metrics
  7. Channels
  8. Cost Structure
  9. Revenue Structure
1. Problem

Firstly, as an entrepreneur, you have to identify some existing problems that you want to solve with the new products and services. It is very crucial to find out at least three essential problems that your product and service will solve completely. Therefore, the entrepreneur needs to list down three problems under the problem section in the lean canvas.

For example, according to BambooS’ lean canvas, the three problems are environmental pollution, one-time use, and restaurants do not provide plastic straws now. So, BambooS is a new company that has outlined these three problems.

2.Solution

The solution is the goal of your business. So, you must have to outline the solution to the problems mentioned in the problem section. The solutions have to be concise, significant, and capable enough to resolve the problems.

For example, according to figure 3, the three solutions are eco-friendly products, reusable and portable. These three proposed solutions are sufficient to resolve the problems.

3. Unique Value Proposition

A unique value proportion refers to a commitment of value that the product or service will definitely provide. It is the fundamental reason for what the customer will buy the products or services. So, you have to differentiate your product or services from others to grab customer’s attention. The unique value proposition also represents the company tagline somewhat relevant to the mission and vision.

For example, the unique value proposition of the BambooS products is bamboo straws- reusable and eco-friendly products, customized products- different sizes and made by natural material. The tagline is Grab me with zero pollution to save the planet.

4. Unfair Advantage

Unfair advantage denotes something of the company that competitors will not be able to replicate. It is an exceptional quality of the product or services that makes the company distinguished. However, it would help if you had to remember that your unfair advantages are sustainable. 

For example, BambooS’ company’s unfair advantages are the new eco-friendly product in the market, unique packaging with pouch bag made by jute, and providing engraved service. These unfair advantages are sustainable and exceptional that no company offers now in Malaysia. 

5. Customer Segments

The problems and customer segments are interconnected issues; because the customers create problems. So, the problem can not endure without customers.  Additionally, customers are the consumer of your products and services. Therefore, you have to analyze your target customer before identifying the problems. Some questions related to the customers should be kept in mind to segment customers, such as where your customer lives, the economic conditions, the demographic factors, and so more. Customer segmentation is also known as demographic, geographic, psychographic market segmentation.

For example, the BambooS authority has chosen the University Putra Malaysia to target audiences. Additionally, they have included Cafe and Restaurant at UPM, Facebook and Instagram Users, and eCommerce Marketplaces (Lazada & Shopee Users) to the customer segment section. 

6. Key Metrics

Key metric refers to the factors that the company owner measure to run the business properly. The key metric drives the performance of the business, so the owner must need to focus on these factors to keep the record. Actually, key metrics are the statistical data related to market share, consumers, number of new users, revenue per customer, and so more. For example, how many followers of the social media pages and the monthly sales revenue. Sometimes, management invests in marketing based on the key metrics data. Every company invests to get

For example, the three key metrics of the BambooS company are active community growth rate at UPM and bamboo straw users, Social media page followers and monthly selling rate, and customer’s positive feedback vs. sales revenue. These data will definitely help the authority to adopt a strategic marketing policy to increase sales revenue. If the company can sell the product properly on social media platforms compared to offline sales, they definitely focus on increasing followers on social media pages to earn more. 

7. Channels

Channels are the media in which management reaches the customers. The channel plays an essential media in conducting a marketing campaign.  There are many types of channels or media that allow you to reach customers as well as regulate campaigns. The two most important types of communication channels are offline and online channels. The offline channels are face-to-face marketing, placard, banner, festoon, Newspaper, TV, and radio.

On the other hand, online media are social media platforms, e-commerce sites, and website traffic. Usually, the market analyzer researches the customer’s background to decide which channels they want to use to conduct a marketing campaign. Nowadays, most companies utilize e-commerce and social media channels to conduct digital marketing. The covid-19 pandemic has changed people’s lifestyles, business patterns, and education procedures. Nowadays, many organizations are using online meeting platforms to conduct organizational meetings as well as regulate business properly.

For example, the BambooS’ authority has chosen Facebook, Instagram, LinkedIn, company official website, Lazada, Shopee, and  Word-of-mouth marketing- WOM for the UPM community.  

8. Cost Structure

Cost structure refers to the costs of launching the new business, for example, equipment acquisition costs, marketing costs, operational costs, and website domain and hosting costs. According to a statistic report, around 90 percent of new companies fail to operate the business due to not considering the total cost of starting and driving the business. Therefore, the owner needs to launch a new business after arranging the full payment.

For example, the BambooS’ authority outlines the sectors where they have to invest money to launch business initially. The list is following:

  • Purchasing Bamboo, Pouches, Coconut fiber cleaning brush, and Paper box.
  • Delivery fee.
  • 3D Printing service cost.
  • Website design and online Paid-advertising.
9. Revenue Structure

Revenue is the key performance indicator of a company. The factors of the company performance and the revenue has a positive relationship that influences each other. Revenue structure is also known as a revenue stream. You have to assess and set the price of the product before releasing it to the market. Many companies make the mistake that set a meager price when launching the product in the market.

The minimum price may bring an adverse impact on business. It damages the future probabilities of your business. Firstly, you might lose a customer when increasing your product price later. The price module must be tested several times through multiple ways to catch the market by the products. The revenue structure depends on the types of business, whether you want to sell products or services. It also depends on whether the company is online platforms based or physical market-based.

For example, BambooS includes the factors to the revenue model, such as physical product selling, launching price is not so much low or high, and online selling price lower than direct selling.

Difference Between Lean Canvas and Business Model Canvas

Lean Canvas Business Model- Lean Canvas Word Template Example

Firstly, Ash Maurya developed the Lean Canvas Model in 2010, whereas Alex Osterwalder introduced the Business Model canvas in 2005.

Secondly, the nine basic elements of the lean canvas model are the problem, solution, unique value proposition, unfair advantage, customer segments, key metrics, channels, cost structure, and revenue structure. On the other hand, the nine fundamental elements of the Business model canvas are customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.

Additionally, the Lean canvas model is suitable for new entrepreneurship who want to start a new business and startup. In contrast, Business Model Canvas is suitable for an existing business.

Usually, entrepreneurship, founder, and investor of the company apply the lean canvas model. However, the senior manager, marketing manager, and operation manager utilize the business model canvas to yield positive outcomes from the business.

Moreover, the purpose of applying lean canvas is to identify the problem and solution to fit new entrants. On the other hand, the objective of using the Business model canvas is to understand the existing market and identify opportunities.

Furthermore, the basis of the lean canvas model indicates testing ideas, assessing the assumption, and focusing on the value proposition. In contrast, the basis of the Business model canvas shows advance and progressive innovation.

Lean Canvas Versus Business Model Canvas

Lean Canvas Business Model, Lean Canvas Word Template & Example

Lean Model Canvas Example For Google

A sample of a lean model canvas of Google has been presented here for a better understanding of how to fill out the template.

Lean Canvas Business Model, Lean Canvas Word Template & Example

Lean Model Canvas Example For YouTube

Lean Canvas Business Model, Lean Canvas Word Template & Example

Online Meeting Platforms- Best Free Virtual Meeting Platforms

 Online Meeting Platforms- Free Best Virtual Meeting Platforms also Web Meeting Platforms List. The Best Free Online or Virtual Meeting Platforms are Google Meet, Zoom Meeting, Microsoft Team, GoToMeeting, Skype, Cisco WebEx Meetings, Adobe Connect, Uber Conference, and Ring Central Meetings. Virtual business meetings platform. Best Online Meeting Platforms for Business Meeting and Online Learning.

Online Meeting

Online meeting refers to the virtual communication among a group of people who stay far away from each other. It is a process of virtual discussion in which the speaker and audiences remain far from each other, and they use communication tools or software to interact. The alternative name of the online meeting is virtual meeting, web meeting, conference call, web-based seminar, web conference, e-learning, mediated group discussion, and so more.

For example, a lecturer University of Putra Malaysia is giving a class via Zoom meeting. The student participates in class from different countries, including China, Singapore, Indonesia, Nigeria, Somalia, Yemen, UAU, Iraq, Iran, Bangladesh, Pakistan, India, etc. The lecturer is the host of the meeting, and students are the participants who join the class via a mobile tab, computer, or laptop.

Online Meeting Platforms

Online Meeting Platforms refer to social media tools and software that allow multiple people to communicate virtually through video or audio calls. People use the online meeting platform to conduct personal, social, political, educational, and professional meetings. These are virtual conference calling tools that allow connecting a group of people to interact simultaneously. Online meeting platforms are also known as virtual meeting platforms, virtual conference platforms, web meeting sites, or web conferencing software. A virtual meeting is the part of mediated communication conducted among a group of people, and online meeting platforms are the media or channels of the communication process. These online meeting platforms, such as Zoom, Google Meet, and Microsoft Team, are also known as communication channels.

For example, Google Meet, Zoom Meeting, Microsoft Team, GoToMeeting, Skype, Cisco WebEx Meetings, Adobe Connect, Uber Conference, and Ring Central Meetings are online or virtual meeting platforms.

Best Free Online Meeting Platforms

The Best Free Online Meeting Platforms are

  1. Google Meet
  2. Zoom Meeting
  3. Microsoft Team
  4. GoToMeeting, Skype
  5. Skype
  6. Cisco WebEx Meetings
  7. Adobe Connect
  8. Uber Conference
  9. Ring Central Meetings.

They are also known as the best virtual meeting or web meeting platforms.

Online Meeting Platforms, Virtual Meeting Platforms
Figure 1: Best Free Online Meeting Platforms or free virtual meeting software, free online conference platforms

1. Google Meet

Google Meet is the most popular free virtual meeting platform that allows around 100 participants to join video and audio conferencing calls for 60 minutes. Actually, Google Hangouts is the former name of Google Meet. Anyone can use this platform via a browser to conduct a virtual meeting with the Google account. The meeting duration for the free plan is up to 60 minutes, so participants need to join again if the discussion is not finished within 60 minutes. Google Meet uses an anti-hijacking feature; therefore, it protects participant’s personal information.  More than 250 participants can join the virtual conference meeting internally and externally, and around 100,000 audiences can enjoy live streaming.

Google Meet launched its operation in 2017, and it is a replacement for Google Hangouts.

The official website link is meet.google.com.

Google Meet Plan

Google Meet offers three users, including Free-plan, Google Workspace Essentials, and Google Workspace Enterprise. It charges USD 8 per active user/month to increase participant up to 150 and time duration up to 24 hours. In contrast, only 60 participants can join for up to 60 minutes through the free plan.

Free Google Meet Duration and Participant

The total meeting duration for free users is 60 minutes, and 100 participants can join the virtual meeting via Google Meet. Anyone can join with a Gmail account.

Google Meet Online Meeting Platforms- Google Meet Setting
Figure 2: Google Meet Setting
Google Meet Setting

Google Meet online meeting platform offers many features, including whiteboard writing, Change Layout, Full-screen, Change background, captions, and so more. The user can write on the whiteboard to inform other participants. The user can share the screen via Google Meet virtual meeting platform.

Google Meet has four layouts that you may apply one by one during an online meeting, for example, Auto, Title, Spotlight, and Sidebar. The user can view a maximum of 49 titles or participants’ names with photos on-screen during the meeting. You need to click the change-layout option to maximize the number of on-screen titles.

Does the user able to set customize the background in Google Meet software?

Answer: No, Google meet allows you to choose the auto-generated background but not the customized background.

2. Zoom Meeting

Zoom meeting is another famous free web conferencing software to conduct virtual meetings. The user applies this online meeting platform in multiple sectors, for example, education, finance, government, and healthcare. Zoom meeting has become the most popular tool for offering various features, including virtual meeting, phone, chat, zoom room, webinars, and so more. Usually, students prefer to use this platform for easy accessibility and free feature. There is no communication noise in the Zoom meeting, so students hear the lecture clearly.

Zoom meeting platform started its operation in 2011. People can use it from a PC or Smartphone. The application is available at Google play store and Apple app store to download free for mobile users. However, the user might download the zoom meeting software from the official website link- zoom.us/download.

Zoom Meeting Setting

Firstly, download the zoom meeting software and click the new meeting icon to organize a web meeting discussion. Participants can join the virtual meeting via Zoom software or Browser, so it is unnecessary to download the software to join. The host needs to click on the new meeting icon to conduct a new meeting.

Zoom Online Meeting Platform Setting
Figure 3: Zoom Online Meeting Platform Starting Point

Secondly, click the blue icon top of the left corner to find the online meeting joining link. Additionally, you will get a setting icon mentioned below in Figure 4. The user clicks the setting icon to copy the meeting link and share it among participants to join the meeting. Additionally, participants may click the setting icon to get all settings mentioned in Figure- 4.

Zoom Online Meeting Platforms, Free Online or Virtual Meeting Platforms Zoom meeting settings
Figure 4: Zoom Online Meeting Copy Link and Setting Icon

Furthermore, Figure 5 represents how to share the screen, change the background image, record the meeting, and so more.

Zoom Online Meeting Platforms, Free Online or Virtual Meeting Platforms Zoom meeting settings
Figure 5: Zoom Meeting Share Screen, Background & Filters, Recording, and so more.
How To Use Zoom Whiteboard?

Click on the share button and click the whiteboard icon to optimize the feature. Follow Figure 5 to get visual instruction.

Free Zoom Meeting Duration and Participant

The total meeting duration for free users is 40 minutes. Around 100 participants can join at the same time in the virtual meeting.

Zoom Meeting Background

Does the Zoom Meeting software allow users to set customize the background?

Answer: Yes, You can upload your company logo or any other photo as a background of the Zoom meeting platform.

The employees can use their company logo as a background when conducting professional meetings with stakeholders. Students also can use the logo when they need to present a dummy company as an assignment. It will definitely impress the lecturer and audience to watch the presentation.

3. Microsoft Teams

Microsoft Teams is an exclusive virtual business communication platform established and regulated by Microsoft. Apart from Google Meet and Zoom, It has also become trendy during the COVID-19 pandemic. The team has replaced other Microsoft-regulated online meeting platforms, for example, Skype and Microsoft classroom.

Microsoft launched the Microsoft Teams virtual conference meeting platform in 2017. The official website link is Microsoft-Teams.

Free Microsoft Team Online Meeting

Similar to zoom meetings, the total meeting duration for free users is 45 minutes, and 100 participants can join the online meeting simultaneously via Microsoft Team.

4. GoToMeeting

Go To Meeting is a familiar online business meeting platform for its clear and noise-free audio and video conference call. It is owned by LogMeIn, also known as a software development company. In 2004, it started its journey as a virtual or online meeting and video conferencing tool. Usually, administrative management authorities and employees use GoToMeeting online meeting software via computer or laptop to conduct real-time corporate meetings.

GoToMeeting provides the service free of charge for 14 days of the trial option, so users need not pay to enjoy the benefits.

Download the App from the official Website link – Download GoToMeeting.

GoToMeeting Best Free Online or Virtual Meeting Platforms
Figure 6: GoToMeeting Virtual Meeting Conference
GoToMeeting Services

GoToMeeting online meeting platform provides the following services:

Conference Calling

Firstly, it provides a conference calls service to interact with many people at the same time. Conference calling event saves both time and money.

Video Conferencing

GoToMeeting also allows conducting a face-to-face HD video conference call.

Screen Sharing

Apart from Google Meet, Zoom, and Microsoft Team, the GoToMeeting also has a screen-sharing option for all participants.  The user can share desktop, smartphone, or tablet screens quickly and securely from anywhere.

Meeting Recording & Transcription

The user can record the real-time meeting event to share with others after the meeting. It also provides HD video, taking notes, marking action items services.

5. Skype

In contrast to the zoom and Google meet and Microsoft team, the total meeting duration for free users is 24 hours; however, only 50 participants can join the online meeting simultaneously via Skype.

Skype is an instant messaging platform that allows users to send text, images, audio, and video. It also provides a video conference call service.

Skype Features

Skype provides some outstanding features for free users, including audio and HD video calling, smart messaging, call recording and live subtitles, call phones, screen sharing, private conversations, and so more. Call phones at low rates is an exceptional service that Skype provides in 25 countries or regions. The user can call any landlines and mobiles from anywhere globally at great low rates using Skype Credit.

The additional Skype features are share location, background effects, send files, Skype translators, custom reactions, raise a hand, search within a conversation, forward call, voice mail, caller ID, and so more.

6. Cisco Webex Meetings

Webex is a leading platform to conduct virtual meetings from an organizational and personal viewpoint. One host can organize the meeting via a free plan where around 100 participants can join for up to 50 minutes.

Cisco WebEx Online Meeting Platforms, Free Best Online
Figure 7: Cisco WebEx Virtual Meeting Platform

The four basic plans of WebEx are free, Starter, Business, and Enterprise. The user might enjoy almost all the entire features via a free plan, including screen sharing, whiteboard, recording, personal text, reactions, and so more. However, users need to pay $13 to enjoy a starter plan in which more than 150 participants can join the meeting smoothly for 24 hours.

The official website link for all features and plans is WebEx Feature & Plans.

7. Adobe Connect

Adobe Connect is a free web conferencing software that users optimize to conduct virtual meetings. It is a very popular tool for remote training and web calling. The trainer can easily share the desktop to teach students and trainees.

The significant features of Adobe connect are chatting options, whiteboard, screen sharing, recording, and so more.

8. Uber Conference

UberConference is an unlimited conference meeting software. It provides amazing free features for users. Craig Walker launched this feature in May 2012. It is also known as Dialpad UberConference.

The free plan allows joining about 10 participants for up to 45 meetings. However, the business plan allows joining up to 100 participants for 5 hours. The business plan charges $15 to provides multiple features.

9. Ring Central

Ring Central is a virtual meeting platform for voice, video meetings, team messaging, and collaboration. It has 7 layers of security and redundant data centers to ensure user protection and high availability.

Ring Central’s features are video conferencing, team messaging, screen sharing, remote working, and so more.

The Purposes of Online Meetings

The purpose of using the online meeting platform is to complete personal, social, educational, and organizational meetings virtually. People from different professions utilize these online meeting platforms to conduct virtual class meetings, virtual business meetings, virtual family meetings, etc. The online meeting platform has become an inevitable medium to maintain communication during the COVID-19 pandemic.

The most significant purposes of online meetings are virtual class meetings, virtual business meetings, and virtual family meetings.

1. Virtual Class Meeting

Firstly, educators, including lecturers, instructors,  and administrators, use online meeting platforms for offering classes to the students.  Students adopt online or web meeting platforms to conduct group discussions. Students also use it due to the easy accessibility feature. Sometimes, teachers instruct students to conduct virtual meetings among group members to discuss the topic and submit the online meeting minutes.

2. Virtual Business Meetings

To make the workplace safe from COVID-19, Many organization decides to adjust to new work norms, namely work from home (WFH). Therefore, the employees use these virtual business meeting platforms, such as Google Meet, Zoom Meeting, Microsoft Team, GoToMeeting, Skype, Cisco WebEx Meetings, Join.me, Adobe Connect, Uber Conference, and Ring Central Meetings. Corporate people must need to use these web meeting sites to operate organizational activities. Many social organizations utilize virtual or online and web meeting platforms to create social awareness among people. For example, in the COVID-19 pandemic, social welfare organizations use these online meeting sites to spread emergency information on how to stay safe from coronavirus.

3. Virtual Family meeting

The individual applies the online meeting platform to organize family programs such as marriage ceremonies, birthday celebrations, anniversaries, and so more.

In short, individual, educator, government, and non-government organizations enjoy taking advantage of web conferencing software.