Option 1: Create a Learn Startup Business Plan (following your textbook’s outline in Chapter 10)
Step 1. Read about the lean startup method in Chapter 10Links to an external site., if you have not done so already. (https://openstax.org/books/entrepreneurship/pages/10-4-managing-following-and-adjusting-the-initial-plan)
Step 2: Create a written Lean Business Plan following the outline in your textbook in 10.4Links to an external site.. Your plan should be a “short and simple document” (as described by your textbook) but should also include:
Basic strategies for product, price, place, promotion; add people, physical environment, and process if it is a service
Basic strategies for target market and positioning
Day-to-day tactics, which include specific tasks or actions that will get an objective done
A schedule with dates for acquiring needed licenses, launch date, and when to review and revise the plan
A business model that details how you will make money
A basic forecast of sales, costs, profit, and break-even analysis
Step 3. Fill out The Lean Model Canvas as a take-away, summary document of what you learned completing the tasks above. Use this template: The Lean Model Canvas.docx
Actions
. Using bullet points and summaries in each box is not only acceptable, but desirable. Think of this as a working document to post on the wall above your desk to keep you on track.
