Xometry (NASDAQ: XMTR), the global marketplace for on-demand manufacturing, announces the acquisition of Thomas
Hugo Britt Dec 01, 2021
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Lean thinking is about eliminating waste and improving efficiency. The methodology has applications including lean manufacturing, lean product development, and of course lean startups. The “lean” concept can also be applied to reducing the length of documentation such as contracts, jobseeker resumes, or company policies.
Lean thinking provides a useful approach to business planning. This is great news for all parties concerned because:
According to BPlans, traditional business plans:
Ideally, a lean business plan should:
Googling “Lean business plan template” or “lean canvas” will bring up dozens of free templates to download and fill in. The U.S. Small Business Administration (SBA) recommends the Business Model Canvas developed by Alex Osterwalder.
Liveplan suggests a one-page template with 12 sections, each of which can be filled in with bullet points. Keep in mind that a reader (such as a lender) may ask for greater detail on any of these sections.
Lean business plans are meant to be live documents. This means that rather than creating a lengthy business plan that will only be used once then never referred to again, the lean plan should be used again and again. This means:
Having a business plan helps business owners secure outside funding, maintain a strategic focus, and track milestones. Having a lean business plan has the added benefits of being easily updatable, saves time, and helps you grow faster. Having a plan-on-a-page also forces business owners to be clear and concise in their planning.
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