Lean Canvas Model Section 4- Solution
In this Blog, I will address the 4th section of the Lean Canvas Model, known as the Solution. It is a section that can’t be considered without the first step, the Problem.
Solutions may seem like it is just a simple answer to the questions posed in Lean Canvas Model Section 1, Problem. The fourth section of the Lean Canvas model is so much more than that. The solution is the glue that begins to tie the business together into a cohesive plan. The Solution directly connects the problem you are solving with the customer segments and allows you to solidify your mission as a business. This section lets you develop a clear statement of the direction you are heading as a business. Any good business owner knows, however, that solutions can change and morph. The solutions you envisioned in the first step may have changed along the way. This is ok and even encouraged. Many businesses fail because they aren’t willing to change certain aspects of their plan and push forward with something that isn’t working or won’t work well.
Solutions can be a wide range of different ways of solving a problem.
Sometimes you are creating something that simply isn’t available. You could offer a cultural cuisine, type of meal, for example: offering breakfast when no one else is, a specialty shop such as a meat market, produce market, or bakery, a super quick lunch option. There are many things that customers are looking for and your strength, abilities, and skills may be perfect for what the public needs.
Sometimes you are offering a service that a niche market needs. For example,
a personal chef option in an affluent area.
Meal prep service for an area that has many singles with demanding jobs.
The most important thing is that you pair the service you are offering with a group that exists in the area you plan on opening. There are many people that open businesses or plan on offering services without, first, doing some research into whether it is something there is enough of a market for. Unfortunately, just because you are good at something, passionate about it, and think it has value, there is no guarantee that anyone else desires or sees value in your product or service.
Another element of the solution that is extremely important is establishing carefully what businesses you will be in direct competition with. Established businesses have a firm advantage because they are predictable and have a loyal customer base. You MUST know how you will distinguish yourself from existing businesses, even if they don’t offer the same product. If they offer food at the same time of day, or products that are at all similar, you need to know why your customers will choose you, even if its just some of the time. There may be 10 restaurants in the area, but when someone says, I’m in the mood for _______, how often will they choose you and why? When you establish carefully 2-3 statements that explain your solution to the area, these statements become a quick and easy way to state your purpose and let customers know what your business is all about. The solution is your defining elements. You wanting to own your own business and be your own boss are not reasons enough to open a business. You need to be able to express clearly and concisely why you exist. This business plan will help you to establish your why.
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