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Saturday, January 11, 2014

Business model canvas - lean canvas

Last assignment for the semester was to present this business proposal. That was last week actually. :-)
My group which was led by myself chose to propose a startup promoting homestay where we become the broker between guests and hosts. The idea came after reading through 15 business models to copy. I was interested with AirBnB's business model and we took off from there with some tuning.

After few rounds of brainstorming and discussions, we put up the introduction, background, problems & motivation, objectives, scope, mission & vision, the lean canvas and process flow. Our brand is "CatchAhome2stay" and the tagline is "In here...there is always a place to call home". We also created the logo. It's really like we were setting up a business here. For this assignment too, we have to have deliverable in the form of website or mobile application. For that purpose, luckily we have a team member who knows how to develop a web page. To support the website, we also have FB page and Instagram. I was so lucky that one night while doing the discussion, came across the list of cool spots for staycation around Kuala Lumpur. So we took some of the photos from there (hypothetically those were recruited hosts under our brand :p)

During presentation, we were asked why we chose to use Lean Canvas instead of Business Model Canvas. Well my answer, it perfectly suited with want we wanted to do. Further more, from our research Lean Canvas is optimized for startup business. On top of that, Lean Canvas is much easier since it starts with the Problem. If you need to read more about lean canvas, do read in here.

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