Mindful Catalyst
Product Management Tool: Lean Ideation Canvas
Organize Your Lean Startup Journey with the Lean Ideation Canvas. Prioritize your riskiest assumptions, craft focused hypotheses, and design actionable experiments to validate your product's potential
Problem
Solution
Unique Value Proposition
Unfair Advantage
Customer Segments
Key Metrics
Channels
Cost Structure
Revenue Streams
Explanation: A hypothesis is a clear statement of what you believe to be true about your product or market. In the Lean Startup, this often revolves around customer problems, product-market fit, or business model viability.
Lean Startup Tip: Formulate your hypothesis in a testable way. A typical format would be: "We believe that [this action] will lead to [this result] for [this customer segment]."
Example: “We believe that offering a referral program will increase sign-ups by 20% in 30 days.”
Explanation: This is the assumption that, if wrong, will have the most significant negative impact on your business. Identifying and testing the riskiest assumptions early prevents investing too much time or resources into a flawed concept.
Lean Startup Tip: Prioritize your riskiest assumptions. These are often tied to whether your solution addresses a real customer problem or whether the customer segment you're targeting is correct.
Example: The riskiest assumption could be: “Customers care about a referral program enough to use it.”
Explanation: This refers to the nature of the hypothesis you're testing. It could be:
- Value Hypothesis: Does the product deliver real value to the customer?
- Growth Hypothesis: Can the product scale, or will customers recommend it to others?
- Lean Startup Tip: Acknowledge whether you’re testing value or growth. Growth is easier to test once you've validated value.
Explanation: This describes how you will test your hypothesis. Common Lean Startup experiments include landing pages, customer interviews, concierge tests, or A/B tests.
Lean Startup Tip: Start with small, low-cost experiments that provide actionable insights quickly.
Example: Set up a simple landing page with a referral tracking system to test customer interest in your referral program.
Lean Startup Tip: Start with small, low-cost experiments that provide actionable insights quickly.
Example: Set up a simple landing page with a referral tracking system to test customer interest in your referral program.
Explanation: The specific steps of your experiment. It should include what you are testing, how you will measure success, and what metrics you'll track.
Lean Startup Tip: Keep it simple. The experiment’s goal is to get data, not to build a fully functional product.
Example: “We will send 100 users an email with a referral link. We’ll measure how many users refer at least one person within 14 days.”
Lean Startup Tip: Keep it simple. The experiment’s goal is to get data, not to build a fully functional product.
Example: “We will send 100 users an email with a referral link. We’ll measure how many users refer at least one person within 14 days.”
Explanation: The MVP is a version of your product that allows you to test key assumptions with minimal effort. It has just enough features to gather validated learning.
Lean Startup Tip: Focus on creating something you can iterate quickly on. The MVP should be the simplest form that tests your hypothesis, not a full-featured product.
Example: A landing page with referral tracking, email capture, and simple messaging about the referral incentive. No full website or additional functionality.
Lean Startup Tip: Focus on creating something you can iterate quickly on. The MVP should be the simplest form that tests your hypothesis, not a full-featured product.
Example: A landing page with referral tracking, email capture, and simple messaging about the referral incentive. No full website or additional functionality.
Explanation: These are the minimum metrics you need to consider your hypothesis validated. If the result is lower than this, the hypothesis should be considered false.
Lean Startup Tip: Be realistic with these criteria but also rigorous. Make sure the outcome is statistically significant enough to draw conclusions.
Example: “At least 10% of users need to refer at least one friend within 14 days to validate the hypothesis.”
Lean Startup Tip: Be realistic with these criteria but also rigorous. Make sure the outcome is statistically significant enough to draw conclusions.
Example: “At least 10% of users need to refer at least one friend within 14 days to validate the hypothesis.”
Explanation: The outcome of your experiment based on the metrics you defined. This is the data you collect to see if your hypothesis was proven correct or not.
Lean Startup Tip: Don’t manipulate or overinterpret the data. If your experiment fails, it means you’re learning faster, not failing as a whole.
Example: After the experiment, you find that only 5% of users referred someone.
Lean Startup Tip: Don’t manipulate or overinterpret the data. If your experiment fails, it means you’re learning faster, not failing as a whole.
Example: After the experiment, you find that only 5% of users referred someone.
Validated / Rejected
Explanation: Based on the results, decide whether your hypothesis was validated or rejected. If it’s rejected, this means it’s time to pivot or try a new approach.
Lean Startup Tip: Be comfortable with rejection; it’s part of the learning process.
Example: In this case, the hypothesis would be rejected if the 10% minimum success criterion was not met.
Explanation: Based on the results, decide whether your hypothesis was validated or rejected. If it’s rejected, this means it’s time to pivot or try a new approach.
Lean Startup Tip: Be comfortable with rejection; it’s part of the learning process.
Example: In this case, the hypothesis would be rejected if the 10% minimum success criterion was not met.
Explanation: This is what you learned from the experiment, even if the hypothesis was rejected. It provides valuable insights into customer behavior, preferences, or the product's potential fit in the market.
Lean Startup Tip: Use this insight to iterate. If you discover a new customer need or segment, adjust your product or experiment accordingly.
Example: “We learned that customers do not value the current referral incentive, but the email open rates were high, indicating strong interest in our product.”ing quality and value to our customers. Each member of our team has at least 5 years of legal experience. We love what we do.
Lean Startup Tip: Use this insight to iterate. If you discover a new customer need or segment, adjust your product or experiment accordingly.
Example: “We learned that customers do not value the current referral incentive, but the email open rates were high, indicating strong interest in our product.”ing quality and value to our customers. Each member of our team has at least 5 years of legal experience. We love what we do.
