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Contestants were required to submit a one-page venture summary, a business model canvas, and a three-minute elevator-pitch.
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In his NCIIA talk, Blank defined a pivot as changing one component of your business model canvas.
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He introduced the business model canvas, a tool that participants will use during the hands-on workshop later today.
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Each lecture addresses a key segment of the business model canvas, and intermittent quizzes help you retain the material.
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Like Siu and Snyder, many contestants found it relatively easy to complete the one-page summary and the business model canvas.
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It explains each major step in that development lifecycle and does so through a visual framework called the business model canvas.
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The business model canvas is meant to be filled in iteratively and changes over time as hypotheses are tested by speaking directly with potential customers and partners.
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LeanLaunchLab is one of a growing number of tools that aim to structure emerging startup best practices such as lean startup, customer development, and business model canvas.
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LaunchPad central shows great promise in terms of helping a startup team keep track of their business model canvas as it evolves based on your hypothesis, keeping track of customer contact as you get out of the building, and providing a way to engage mentors and advisors in the process.
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When you start a new project (a company, product line, or division), the program prompts you to fill in the components of your business model on the canvas.
FORBES: LeanLaunchLab: Online Tools For Focused, Nimble Startups