1. Problem

Each customer you are thinking to work with will have a set of problems that they need solving. In this box try listing the one to three high priority problems that you Customer has. Without a problem to solve, you don’t have a product / service to offer.

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2. Customer Segments(CS)

The problem and Customer Segments can be viewed as intrinsically connected — without a CS in mind you can’t think of their problems, and visa versa.

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3. Unique Value Proposition(UVP)

In the middle of the canvas is the UVP. A value proposition is a promise of value to be delivered. It’s the primary reason a prospect should buy from you. A way to get your head around this is to think why are you different and why should your CS buy / invest time in you 

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4. Solution

Finding a solution to the problem is the golden egg! You’re not going to get this right off the first bat — it’s OK, as that’s what Lean is all about. So go interview your customer segment, ask them questions, and take those learnings. Remember the Lean Startup is validated learning through a continual Build — Measure — Learn cycle.

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5. Channels

Channels are ways for you to reach your CS. And remember that in the initial stages it’s important not to think about scale but to focus on learning. With that in mind try to think which channels will give you enough access to your CS at the same time give you enough learning. Channels can be email, social, CPC ads, blogs, articles, trade shows, radio & TV, webinars etc. and BTW you don’t have to be on all of them, just where your CS are.

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6. Revenue Streams

How you price your business will depend on the type of model it is however it’s quite common for startups to lower their cost, even offer it for free to gain traction however this can pose a few problems. The key being it actually delays / avoids validation. Getting people to sign up for something for free is a lot different than asking them to pay. There is also the idea of perceived value. 

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7. Cost Structure

Here you should list all the operational costs for taking this business to market.You can then use these costs and potential revenue streams to calculate a rough break-even point.

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8. Key Metrics

Every business, no matter what industry or size, will have some key metrics that are used to monitor performance. The best way to help with this is to visualise a funnel top down that flows from the large open top, through multiple stages to the narrow end.

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9. Unfair Advantage

This is the most difficult to block to answer. However, do try to think about this as having an unfair advantage can help when it comes seeking partners & investors. The definition of unfair advantage is: “The only real competitive advantage is that which cannot be copied and cannot be bought.” Unfair advantage can be insider information, a dream team, getting expert endorsements, existing customers etc. So rather than think about adding something like “commitment and passion” as an unfair advantage (because it is not), think about what you have that no one else can buy.