Save Time with a Lean Business Plan

an image of a handwritten illustration of lean business plan concepts
 

It’s normal for a larger company to use a lean business plan for a proof of concept. However, solo and micro-entrepreneurs can use a lean plan to help them organize their business idea. They can also get their product or service available in the market quicker. Learn about lean business plans and how they can help you quantum leap your new business.

What Is a Lean Business Plan

A lean plan is a short, concise (usually one-paged) document that can help entrepreneurs launch their business idea iteratively and incrementally. It is easy for new business owners to get lost in an elaborate plan, which leads to delays or abandonment of their business idea.

Using a lean plan can bring you clarity and structure to strategically implement a plan on a budget.

What’s Included In a Lean Business Plan?

Your lean plan is a one-page canvas that describes your business model. It typically includes the following:

  • Identity
  • Problem Worth Solving
  • Our Solution
  • Target Market
  • The Competition
  • Sales Channels
  • Marketing Activities
  • Revenue
  • Expenses
  • Milestones
  • Team and Key Roles
  • Partners and Resources

Identify Section (Lean Business Plan)

The identity section of the plan is one sentence that describes why consumers should pick you. It embodies that your company vision, mission, and values align with your target market’s needs.

Problem Worth Solving

The problem worth solving section is a one-sentence description of why you exist. This section of your plan is an essential part of any lean business plan—without it, you have no business.

Our Solution

The solution section is where you’ll describe your proposed solution to the problem. In this section, you’ll want to describe how your company will solve the problem and benefit both the customer and your business. You can describe your solution in a paragraph or list the product services

Target Market

In your target market section, you highlight your customer niches. The best way to display the target market is by segmentation. As you iterate through your lean plan, develop customer personas or avatars that represent the ideal customers in the different segments

Competition

Make a bullet list of your competitors in the competition section. The competitors you list are those you researched and compared your brand to theirs.

Sales Channels

The chase channel is either a short paragraph or a bulleted list of how and where you will sell your products or services.

Marketing Activities

The marketing activities section bullets or summarize the marketing activities you intend to implement.

Revenue

List the primary income sources in the revenue section.

Team and Key Roles

The team and key roles section include the key players and their roles in your startup under your plan’s teams and key roles section.

Partners and Resources

If you rely on business key business partners as part of your business model, list them in this section.

Milestones

List the key activities to start implementing your business. The key milestones should represent your goals and the way you plan elaborate through your lean plan.

Appendix and References

Though you have a one-page canvas, your lean business plan results from research, assumptions, and references.

The Benefits of Using A Lean Business Plan for Starting Your Business

Starting with a massive plan can be overwhelming. This plan enables you to outline the critical aspects of your business to see if you’re on the right plan. There is a surplus of benefits, but here are a few:

  • The ability to test out an idea to see if it has any potential
  • It allows you to launch your business quickly
  • You reduce the risks of delayed or an unsuccessful launch
  • Working in shorter cycles allow you to adapt to pivot your strategy quicker
  • It makes your business model evolutionary

How To Build A Lean Business Plan

  1. Brainstorm your business idea
  2. Outline the goal and questions you need to answer
  3. Research your industry
  4. Create a high-level forecast
  5. Research your niche market and competitors
  6. Organize your data
  7. Answer the questions on your template

Plan Your Business Efficiently Using Lean Methodology

Solopreneurs don’t typically do not have the same resources as big businesses. Sustainable takes an agile strategy that gets you quicker to market and more nimble at adapting to change. Jowanna Daley can help you formulate a winning strategy for your business. Give Jowanna a call.