Understanding Lean Business Plans

What is the main focus of a Lean Business Plan?

• Making detailed money plans

• Simple strategy and action

• Big market study

• Lots of competitor study

Which of these is NOT part of a Lean Business Plan?

• Mission statement

• Key partnerships

• Financial forecasts

• Detailed marketing plan

What is the main benefit of a Lean Business Plan?

• It has a lot of details and information

• It is fast to make and easy to change

• It does not need any market research

• It makes sure the business will succeed

What is a key characteristic of an entrepreneur?

• Risk aversion

• Inability to adapt

• Innovative thinking

• Preference for routine

Which part of a Lean Business Plan talks about the people you want to sell to?

• Money plans

• Customer groups

• Ways to make money

• Important things you need

What is the main reason for having a business plan?

• To get money from investors

• To explain what the business wants to do and how

• To make other businesses jealous

• To not pay taxes

What is important for coming up with new business ideas?

• Studying the market

• Copying others

• Not listening to customers

• Staying away from risks

What is a simple way to look at business opportunities?

• SWOT analysis

• Guessing without information

• Ignoring what people want

• Not paying attention to trends

What is a good thing about being your own boss?

• You will always succeed

• You can take as many holidays as you want

• You can think of new ideas and make them happen

• You will not have to worry about money

Which part of a Lean Business Plan is about making money?

• Main activities

• Ways to earn money

• Spending plan

• How we talk to customers