Before entering the market, did you fill out a Business Model Canvas/Lean Canvas for your business?

Question

Felix Tao · Accepted Answer

Before entering the market, I made sure to fill out a detailed Business Model Canvas/Lean Canvas for my business.

Julia Doronina · Answer

@mehmet_yitmen1 I think that in the modern world it's a really good way to simplify brainstorming with AI

Alex Egorov · Answer

In some form, yes. But I must admit, we're not doing it perfectly.

Rose · Answer

Thank's for everyone's responses

Mun · Answer

Same question as me

Julia Doronina · Answer

@nitin_joshi These are special canvases that allow you to take another look at your business by segments - identifying your target audience, the channels you will use, your monetization strategy, what you need for launch, and your unique value proposition. They are really helpful for structurally analyzing your business.

Answer

Yes, It's often a valuable exercise to clarify their business model and strategy before entering the market. It helps outline key components and ensure a solid foundation for success.

Nitin Joshi · Answer

@julia_demyanchuk thank you Julia for explaining this. I appreciate it

Nitin Joshi · Answer

I don't know what it is, but I will appreciate if you explain what it is?

Mehmet Yitmen · Answer

i do, and brainstorm it with cahtgpt too

Answer

bussiness model canvas

Martin Schumacher · Answer

I never used those for business goals. When I was in university, I used those canvases to structure my projects for game development. Those are really helpful.

Kevin Fairbanks · Answer

We used to do a BMC for every idea before building and launching, but the past few years we tend to just build a MVP and soft launch to test the waters. If it flops we don't spend any additional time on the project. If there was some success we reevaluate.

Julia Doronina · Answer

@mehmet_yitmen1 notified!

Before entering the market, did you fill out a Business Model Canvas/Lean Canvas for your business?

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