Pay per click marketing or PPC is one of the wisest ways to promote using the power of this search engine. So, what is PPC? Placing your ad on the powerful search engine Google, through the use of Google AdWords, is the most well-known kind of PPC advertising. If you set up your campaign in the most efficient way — targeted keywords, compelling ad copy, an attractive and effective landing page, and more — the amount of money you pay for clicks on Google will be minimal compared to your profits.
In order to get the green light to move forward, you are often asked to write an elaborate 30 page business plan, complete with a 5 year financial forecast, and an 18 month product roadmap.
Forcing an elaborate plan as a pre-condition to funding silently kills a lot of ideas out of sheer inertia because they never even get started. More importantly, the world has changed. Analyzing, then planning, then executing used to work in world where barriers to entry were high and competitors few.
But in the new world of continuous innovationwhere speed of learning has become the new unfair advantage, we need dynamic models — one page business plan canvas static plans. That is why we created the Lean Canvas. First, there was the Business Model Canvas. The purpose of a business is to create a customer.
The power of the Lean Canvas lies in its simplicity. A design goal when creating the Lean Canvas was ensuring it was accessible to anyone in the company not just the business folks because good ideas can come from anywhere.
That testing paid off… Today you see the Lean Canvas used, not just by business folks, but also engineers and designers and product managers at thousands of startups, accelerators, and large companies. It is even taught in many of the top business and engineering schools around the world, and I learned recently, even at the high school level, which is amazing to see.
All that was great, but there was a problem. As we saw more people adopt the Lean Canvas, we learned that the Lean Canvas was still not enough to replace the business plan. After all, they are in the business of driving ROI and want to ensure the idea represents a big enough problem worth solving.
In their defense, we have seen many teams get swept up in the excitement of finding early validation for their ideas, only to learn months down the road, that they were chasing too small a market.
To address this shortcoming, investors and stakeholders would still make teams spend countless hours on a financial forecast spreadsheet.
But more important, you end up back in the old world: So there was a problem… We strongly believe that unless you can completely break away from the waterfall business planning process, you cannot practice continuous innovation.
The Customer Factory Blueprint uses just 7 key metrics to replace all the numbers in a typical financial forecast spreadsheet. You can find more on that here: Using just these 7 key metrics, it is possible to quickly test the viability of an idea using a 5 minute back-of -the-envelope calculation, and build a traction roadmap that you can use to effectively define, measure and communicate progress to your internal and external stakeholders.
You do this by focusing on problems before solutions. We, however, still need to set and communicate goals and milestones. This traction roadmap was built using just the inputs from the customer factory blueprint model. So they employed a 10X traction model and formulated their now famous secret master plan: If you believe, and we certainly do, that how customers consume and demand products has changed, that customers today have a lot more choices than before, that customers today are moving us…they are fundamentally moving us towards this new world of delivering value continuously.
Then the current processes we use also need to fundamentally change. We predict that in the next 5—10 years no one will be writing business plans, and no one will be using waterfall.
But why would you still be writing a business plan?Business Model Canvas is a strategic management and lean startup template for developing new or documenting existing business models. It is a visual chart with elements describing a firm's or product's value proposition, infrastructure, customers, and finances.
It assists firms in aligning their activities by illustrating potential trade-offs. timberdesignmag.com: Business Model You: A One-Page Method For Reinventing Your Career (Audible Audio Edition): Timothy Clark, Alexander Osterwalder, Yves Pigneur, Don Hagen, LLC Gildan Media: Books.
Create your visual business model or SWOT model with Canvanizer, business brainstorming blackboard, modelling tools.
The Home of the 4 Hour Investor Grade Business Plan. Faster investor quality documentation using HyperQuestions. How to Guides Keep It Simple: How To Write A One Page Business Plan. Lengthy business plans are a thing of the past and there are sound business principles for why.
A global standard used by millions of people in companies of all sizes. You can use the canvas to describe, design, challenge, and pivot your business model.