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<div style="font-size:x-large;">Why the Business Model Canvas (BMC)?</div><br>A fundamentally important part of the Lean Startup method is the Business Model Canvas and its use in testing your hypotheses for how a new product or service will translate to a scalable business opportunity. Watch this quick 4 minute overview with Alex Osterwalder, creator of the Business Model Canvas, explaining the BMC.<br><br>
{{#widget:Youtube|id=2FumwkBMhLo|width=75%800px|height=600px}}<br><br>Here's the original business model canvas, adapted to include key questions asked in each segment.<br><br>[[File:Business Model Canvas.png|900px|thumb|left]]}}<br>
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To complete this assignment, complete the yellow post-it notes on the Change Model Canvases in Section 5 of the Training Mural.
#Complete the Change Model Canvas as you would the Business Model Canvas, from right to left concentrating first on the Population Segments and the Value Proposition you are offering to each one. Then, focus on the Pathways to identify the ways you are going to reach these individuals. {{note2|'''Note:'''}} Your Population Segments can be as broad as "All first year students" or as narrow as "Women engineering majors who don't reside on campus." The narrower your audience, the more targeted your offering.
#Rough out all the other boxes. Note, the Change Model Canvas is not meant to be completed like a class paper with 12 point type, but rather each section should have 2-3 bullet points. For an example of the level of detail each box might have, [https://www.youtube.com/watch?v=13ZItq8r_g0 you can view the first 1.5 minutes of this video which completes the BMC for the popular women's clothing store, Zara].
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|title=Deliverable 1: Change Model Canvases
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This is due by the end of week 5. Submit a google doc reflection about the process of using the Lean Startup approach of testing your project ideas with each stakeholder. Drop the google doc in your campus folder and share the link in Training Update (visit the [[2023:Training/Submitting Assignments|Submitting Assignments]] page for more on how to submit your assignment). It is very important that you show your work and complete all of Session 5 in the Training Mural so we can understand your progress.
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