What is the Lean Canvas?
The Lean Canvas is a clean model of mapping customer values to business resources. This means creating a clear headspace to make smart decisions from the start, such as determining whether you have a task worth tackling before investing time into it.
Learn to weigh cases before deciding to take them on by collecting feedback on certain propositions. This way, you can focus resources to work smarter instead of harder.
For example, instead of spending countless hours mastering a subject, why not learn the amounts necessary as needed? While there wouldn’t be a mastery of said subject, this allows for extra time to be more productive and profitable.
Contrary to what attorneys may be used to, this approach sets out to find a short-range solution to address a broader problem set. Instead of a deeper, more resource-intensive approach, it’s a much ‘leaner’ way to decisively solve problems.
Without all the answers, how is a Lean Canvas beneficial?
Based on the ability to work from a short-range solution and build outward, the Lean Canvas model identifies and takes advantage of opportunities as more information becomes available.
For example, if you open an employment law practice, but you receive constant referrals for divorce cases which would streamline revenue, would you begin to take them?
Taking on cases outside your practice area is an example of growth through “Obliquity,” which is a term used to describe how experimentation and discovery are some of the best methods to handle new or uncertain objectives. These new objectives would most likely be added revenue streams, as well.
Problem solving relies more on iteration and adaptation than investing vast amounts of time and resources into efforts that may not be crucial to the tasks at hand. Such a model is becoming necessary in today’s world of uncertainty where long-term objectives may not always be clear, and circumstances are constantly changing.
Here’s a brief outline of what the Lean Canvas looks like:
The Lean Canvas is made up of nine components:
- The Problem: What are you going to address?
- The Solution: How you’ll resolve the problem.
- Key Metrics: What do users need to do, so that you make money?
- Cost Structure: All of your fixed and variable costs.
- Unique Value Proposition: What makes your service stand out?
- Channels: How are you reaching your clients?
- Customer Segments: Break down your users from larger groups into smaller ones.
- Revenue Streams: Find out which apply best to your firm.
- Unfair Advantage: Your magic weapon; something no one else can find or replicate.
Generate new revenue streams, redefine your practice, and work smarter instead of harder. The Lean Canvas is a great way to strategize in a way that benefits you most. Want to delve deeper? See how the Agile methodology can help your firm by reading our post on Five Resources for the Agile Attorney.