Saturday 6th October, 2018
Ibis Styles Hotel, London Bridge
£197 | £149 (Inner Circle Members)
Your business is in it's infancy, and you're frantically working every spare minute you can find to get everything done. You're struggling to get customers, and the cash isn't flowing. You need some help.
Too many startups begin with an idea for a product that they think people want. They then spend months, sometimes years, perfecting that product without ever showing it, even in a very rudimentary form, to the prospective customer.
When customers eventually communicate, through their indifference, that they don't care about the idea, the startup fails.
I don't want you to waste your time or money heading down that same path.
Dharmesh Raithata [Mentor &Trainer]
Dharmesh is Product Partner at Forward Partners; a VC firm that helps founders go from idea stage to having a great product or service and a successful business. He has a passion for User Research and Lean UX, and has a background in artificial intelligence and has been developing products for over 12 years in either his own, or other high profile startups. Dharmesh regularly speaks at locations such as Google Campus on Lean Thinking and the Lean Startup Canvas.
The concept of a Lean Startup business is all about finding a gap in the market in the most efficient way possible in terms of time and money spent. It’s the amalgamation of multiple techniques that help your new product or service get to market quicker whilst avoiding the development of a product that no-one wants.
For many fledgling entrepreneurs in the idea phase of setting up in business, it can feel like they are simply taking a stab in the dark; but it doesn’t have to be such a hit-or-miss proposition. With a little lean thinking it’s possible to develop and refine your ideas to mitigate market risks.
Take a look at the image below to see some of the key principles that you'll be learning about at the Lean Canvas Workshop, helping you to achieve a better chance of long-term success on a limited budget.
Let's Look At The Key Components Of The Lean Canvas...
The problem box in Lean Canvas was created to list one to three high priority problems that need solving. The wrong products are built when several businesses fail to apply good effort, time and fiscal resources. It is thus crucial in understanding the problem first.
It has been observed that if the target is to attract more than one range of customers, for example, engineers and accountants, it is better to create a canvas for each one. The Problem box and CS can be seen as linked with each other intrinsically, i.e. You can’t think of any problems without a Customer Segment, and vice versa.
Unique Value Proposition is situated in the middle of the Lean Canvas. A promise of value to be delivered to the customers is called a value proposition. This should be the main reason a prospective buyer has to buy from you. Thinking and understanding why your product is dissimilar and why should your Customer Segments want to buy or invest in your company and your product is the best way to understand Unique Value Proposition.
A cordial solution has to be found once the problem has been recognized. This is the reason why the Minimum Viable Product concept within a Solution box was introduced in the Lean Canvas. The jackpot has been finding the solution to the problem. The solution cannot 'be found in the office building but out there in the streets.' The best way to understand is by interviewing your Customer Segments, asking them questions and taking those learnings into account.
It is better for a Startup to pivot on one metric and develop on it. The metrics should include the range of services or products you intend to provide. Since the wrong one could be disastrous to the startup, it is therefore critical that the right metric is identified. Irrespective of industry or size, every business will have some key metrics that are used to monitor performance.
Channels are the best way for you to reach out to your Customer Segment. It is essential to focus on learning about the channels than to not to think about scale in the initial stages. Channels, which are free as well as paid, can be used to reach your customer directly. Some examples of Channels are social, trade shows, email, CPC ads, radio & TV, blogs, webinars, articles etc.
The entire variable cost, as well as the fixed costs, is to be listed here. Questions regarding Cost Structure are to be thought here. How much will it cost to build a page? What is the amount required to run your company in a month? What will be the cost to interview your customer segment? How much do market research papers cost? etc. A rough break-even point can then be calculated from these costs and potential revenue streams.
It is common for startups to lower their cost or even offer it for free in the beginning to gain attraction. The key is it actually delays or even avoids getting checked for validity. It has been seen that getting people to sign up for something for free is a lot different than asking them to pay as they are more interested in free products.
Ash Maurya, Creator of the Lean Canvas said, “You may initially have to leave this box blank but the reason it’s here is to have you really think about how you can both make yourself different and make your difference matter”. A startup should always have the capability to recognise whether or not it has an unfair advantage over others. Unfair advantage can come in different forms like getting expert endorsements, a dream team, insider information, existing customers etc.
So many workshops give you the tools and then either leave you to figure the rest out by yourself, or charge you a fortune to progress to the next level of training. Not at Escape The Rat Race.
By the end of the Lean Canvas 1 Day Workshop you'll have created your personalised Business Plan. You'll have a newfound clarity and excitement about your business again. But then you'll need to put your plan to work!
The problem with most traditional business plans is that they're boring and don't ever get used. That's absolutely NOT the way the Lean Canvas is intended to be used...and we're going to make sure that you don't leave this workshop and hide your plan away in a drawer to gather dust.
During the afternoon session we’ll go into action mode and you’ll start implementing your plan to begin validating your new business model. We’ll be showing you exactly which inexpensive online tools and software you can use to launch your new business on a shoe-string.
If you're looking for more freedom and more passive income in your life, then you have to focus on income generating assets. Creating a business is one of the best assets to help you build wealth and free you from your demanding 9-5 day job. However, if you've never started a business before then it can be stressful, hard-work, and costly. This workshop will help you to focus on each fundamental area that you need in order to be successful, ensuring that you can start attracting clients and generating cashflow from the start.
Special Discounted Ticket Price for #ETRR Inner Circle Members Only
Full Day Training to Create your own Lean Canvas Business Plan
Follow up 1-2-1 mentored guidance on execution of your Business Plan
Our intention is always to deliver the highest quality education and training we possibly can for all of our valued clients. If for any reason you attend the Lean Canvas Workshop and are not completely satisfied with the training provided on the day, simply speak to the trainer or contact us via email or phone following the event, and we will refund you 100% of your ticket fee.