An in-depth overview of the methodologies reveals a hidden truth: none of them is universally valid. As I said, there is no one Startup Bible that guarantees redemption from uncertainty and the perilous journey. Each of them focuses on very different aspects of a startup. Using them together, as different tools and toolboxes in the arsenal of an entrepreneur, is the best approach to building a successful venture. Instead of choosing one and hope for the best possible outcome, I would recommend combining them.
Business Model Canvas
-Pros
Visual, easy
Focuses on value
Helps with understanding the customer beyond simple marketing parameters
-Cons
It’s a map of the destination, but with no compass
It has a fixed architecture
Being very minimal, it can give a false impression
vs Lean Startup
-Pros
Provides the right mindset for entrepreneurs to deal with uncertainty
Focus directed at user/customer
Important concepts as MVP and pivoting
-Cons
Could give entrepreneurs a false illusion of progress through failure
Encourages focus on product vs business (build/measure/learn)
Process leaves a lot of room for founders to avoid hard questions and take the wrong approach
Provides the right mindset for entrepreneurs to deal with uncertainty
Focus directed at user/customer
Important concepts as MVP and pivoting
-Cons
Could give entrepreneurs a false illusion of progress through failure
Encourages focus on product vs business (build/measure/learn)
Process leaves a lot of room for founders to avoid hard questions and take the wrong approach
vs Disciplined Entrepreneurship
-Pros
Focus on business side of a startup
Clear and detailed map from beginning to end
Focuses on numbers and process to reduce uncertainty
-Cons
The steps metaphor gives the false impression of a linear process
Lot of effort in dealing with multiple unknown business variables before getting to the enjoyable part of the process (building the product or technology)
Focus on the path & tools, not on how to be an explorer or the clarity of the destination
-Pros
Focus on business side of a startup
Clear and detailed map from beginning to end
Focuses on numbers and process to reduce uncertainty
-Cons
The steps metaphor gives the false impression of a linear process
Lot of effort in dealing with multiple unknown business variables before getting to the enjoyable part of the process (building the product or technology)
Focus on the path & tools, not on how to be an explorer or the clarity of the destination
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The business model canvas is a one-page document that lets you work through the fundamentals of your business ideas in a single snapshot. Populating this upfront will outline all relevant aspects that one will need to consider when defining a marketing strategy. Click on the following businenss model template to edit it online.
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