The below guide is designed for people working on start-ups or concepts before starting up a business.
Start-ups should pay most attention to the Focus domain of the canvas (Purpose, Customer, Product and Experience) and the Mindset area of Momentum.
If you do not what to answer in one of the areas, then include a question or a list of possibilities and then add actions to the Momentum domain to answer these points.
This guide is best used when following the steps outlined as part of the ‘five steps to simplicity’:
focus – knowing your promise
What impact does your business make on its customers and the environment?
- What is the personal motivation of the team starting this business?
- Is the purpose of the company clear enough to use when making decisions on what to do, and not to do?
Who are the perfect customers and what value do they receive?
- How do you remind yourself that you are not your own perfect customer and you need to keep their perspective in mind?
- What is the biggest pain in the life of your customer that you can solve for them?
What products or services does the business provide and how does it capture value?
- How can you ensure continuous experimentation to continually adapt your product or service?
- What is the absolutely most simple version of your product or service which you can sell immediately?
What is the journey the customers experience and what emotions do they remember?
- How can you make the customer journey very simple to start, so it is obvious how to use your product or service?
- Exactly how will your product achieve your purpose with your customers?
- What aspects of your mindset do you need to continue or improve to achieve the above?
growth – sharing your promise
What major achievements are required to bring this business to the next level?
- How will you validate that the timing is right in the market for your product or service?
- What is the specific plan to get the first customers?
How is the performance of the business measured and what are the targets?
- How will you measure if your product is really valued by the customers?
- How will measure what is not satisfying to customers?
What are the markets, channels and competition of this business?
- How do your customers solve their problem right now, without your product or service?
- What is the most narrow and specific market you can serve while validating your product?
What is the unique style of the brand and how is this message shared?
- What is the bare minimum branding while you are still validating your product?
- How can you share your brand with your customers without spending a lot of money?
- List any specific actions you need to complete on the short term to achieve the above.
delivery – fulfilling your promise
Who are the people that are required to make this business a success?
- Who can you work with that on a fractional or temporary basis to help you test your product or service?
- What people need to be involved in the business quickly in order to overcome any weaknesses?
What data or information is required or created by your business?
- Where will you acquire data and information about potential prospects of your business?
- How will track your inventory or capacity to ensure you are able to fulfil the initial demands from customers?
What tools, materials, technology or funding does your business require?
- What tools can you borrow or use temporarily without making a large investment?
- How you will maintain enough cash flow until the business is profitable?
What are the most important processes and what can be automated?
- What is the process to decide which new features to create based on the feedback from your market testing?
- How can you simplify your hiring and onboarding processes to ensure you get people with the right cultural fit?
- Are there any serious risks you can imagine while completing the above?
momentum – managing your energy
What beliefs and attitudes do you need to succeed?
- Do you have the right balance between building and selling?
- What can you do to provide more balance and calm in order to avoid unnecessary stress and burnout?
What are the short-term actions you can complete quickly?
- What actions can you take to validate your product or service with your customers?
- What actions can you stop now in order to focus more on what is really important?
What are the main risks and how can you manage them?
- What is the absolute worst case scenario for your business?
- When will you know that your customers want your product and it is time to scale?
Need help accelerating your business performance? Ebullient.com provides various coaching experiences to help you ranging from a business review of your canvas to our one-on-one Elite Accelerator program. Let's simplify together!