Example Business Plan: Lean Startup Format
Reading time: 5 minutes
When writing a business plan and you want to explain or start your business quickly or your business is simple or maybe you plan on changing or refining your business plan, the Small Business Administration's Lean Startup Format may be for you. The link to the example lean startup format business plan is at the end of this article.
To develop the lean startup format business plan, the nine components are outlined below:
Key partnerships
Note the other businesses or services you’ll work with to run your business. Think about suppliers, manufacturers, subcontractors, and similar strategic partners.
Key activities
List the ways your business will gain a competitive advantage. Highlight things like selling direct to consumers, or using technology to tap into the sharing economy.
Key resources
List any resource you’ll leverage to create value for your customer. Your most important assets could include staff, capital, or intellectual property. Don’t forget to leverage business resources that might be available to women, veterans, Native Americans, and HUBZone businesses.
Value proposition
Make a clear and compelling statement about the unique value your company brings to the market.
Customer relationships
Describe how customers will interact with your business. Is it automated or personal? In-person or online? Think through the customer experience from start to finish.
Customer segments
Be specific when you name your target market. Your business won’t be for everybody, so it’s important to have a clear sense of whom your business will serve.
Channels
List the most important ways you’ll talk to your customers. Most businesses use a mix of channels and optimize them over time.
Cost structure
Will your company focus on reducing cost or maximizing value? Define your strategy, then list the most significant costs you’ll face pursuing it.
Revenue streams
Explain how your company will actually make money. Some examples are direct sales, memberships fees, and selling advertising space. If your company has multiple revenue streams, list them all.
Small Business Administration (2024)
The SBA provides an example of a lean startup business plan. Here is the link: https://www.sba.gov/document/support-andrews-business-plan-template-lean
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Nadine Muhammad has a Master of Science in Economic Development and Entrepreneurship. She is the owner of an online bookstore Nation's Products and NLM Economic Development Services. For a consultation with business plan writing or developing an economic development strategic plan for your community send an email to nlmeconomicdevelopmentservices@gmail.com
Reference
SBA. (2024). Ten steps to start your business. https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan#id-pick-a-business-plan-format-that-works-for-you
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