How to use it
Either print it off, sketch on your touch screen, or my personal favourite is just typing in on a free tool like Figma.
You can hop around as you like, but I usually go in this order.
Check out this article if you are getting stuck on a square and want some examples.
1) Customer Segments
Who are your target customers?
There is a deep connection between a company’s problems and its customer segments.
You cannot think about one without thinking of the other.
And get specific, think of the actual customers; what are they like?
As an example, are they content creators, hiring managers or people who have cats?
The more focused the segment is, the easier it is to create something that will resonate with this customer segment.
Pro tip: Don’t use some umbrella term like SMEs (Small and medium-sized enterprises) as it’s far too broad.
To be successful, you need to have a problem that people want to be solved.
In this box, try listing up to three issues your customers have.
3) Unique Value Proposition
This should be a single, clear and compelling message of why you are different and worth buying.
You don’t always have to be the only one who does this either; a lot of great businesses are improvements on existing businesses.
Google wasn’t the first browser on the scene.
It would help if you had an idea of how to solve the problem you are targeting.
In this box, try up to three features your solution will offer.
5) Revenue Streams
How will your business make money?
How you charge your customers can impact how easily you can attract customers. From perceived value to validation, this can be a tricky balancing act.
In the business world, sometimes we think about customers and target audiences as one in the same thing. But for instance, with Uber, Taxi drivers are needed to run the business but are not the customers.
Think about your pricing model. It’s tricky to nail and will probably take some experimenting to find the perfect fit.
You can, however, think about how you will charge.
Is it a monthly subscription, one-time payment for a license or even transactional when selling a physical product.
This is something you will need to include.
6) Cost Structure
How much will it cost to run this business?
What resources, investments and ongoing costs will it take?
Fixed Costs are the rent, taxes and interest expenses. They’re less likely to fluctuate over time in comparison with variable costs, which can vary based on how much you make or what kind of materials needed for your business venture is increasing/decreasing at any one point during its operation.
7) Key Metrics
I swear by OKRs (Objectives and Key Results) for this. Check out the little video below if you’ve never heard of OKRs, as it summarises Measure What Matters
What metrics will you follow to deem the project successful or know that you are going in the right direction?
Will you monitor downloads, reviews, sales and/or usage?
What revenue should your company have to be profitable?
What’s most important to your business, and how can you monitor it?