{"id":23,"date":"2024-04-04T07:48:23","date_gmt":"2024-04-04T04:48:23","guid":{"rendered":"https:\/\/sisu.ut.ee\/sdce\/module-5-2\/"},"modified":"2024-04-05T12:37:15","modified_gmt":"2024-04-05T09:37:15","slug":"module-5-2","status":"publish","type":"page","link":"https:\/\/sisu.ut.ee\/sdce\/module-5-2\/","title":{"rendered":"Topic 2: Spotlight On Lean Start Up and Sustainable Business Model Canvas"},"content":{"rendered":"
\r\n\t

\r\n\t\t\"SDCE_clowd\"This\u00a0topic covers information on ways to finance an DCE project. The learning outcome of this topic is to gain an understanding of lean start-up and how tech companies help to fund their organisations.\r\n\t<\/h4>\r\n<\/blockquote>\r\n\r\n

\r\n\t\u00a0\r\n<\/p>\r\n\r\n

\r\n\t\"SDCE5-2\"What is the Lean\u00a0Startup Methodology?<\/strong>\r\n<\/h3>\r\n\r\n

\r\n\tThe Lean Startup process is an ideal methodology on which to base student civic engagement project. It provides a formula & scientific approach to new project\/service or product development. It teaches you how to create and manage a project, and to get your project to your chosen target group\/ marketplace quicker and more efficiently.\r\n<\/p>\r\n\r\n

\r\n\tNot every project will be successful. Lots of startups can fail. Many spend years developing and designing a product without ever introducing or showing the product to their prospective customer. If the customer is unaware of the product and unable to provide their input, they cannot tell the startup what it is they like\/dislike about the product or if they would use or buy the product.\r\n<\/p>\r\n\r\n

\r\n\tIf the startup appears to be disinterested in the customer\u2019s opinion, why would the customer be interested in the startup? By focusing so much on getting the product perfected, the startup fails to engage with the customer base.\r\n<\/p>\r\n\r\n

\r\n\t\u00a0\r\n<\/h3>\r\n\r\n

\r\n\tTaking a Closer Look at Innovation<\/strong>\r\n<\/h3>\r\n\r\n

\r\n\tInnovation is all about finding different ways to do things \u2013 the ideal basis for your project.\u00a0 In the business world, it gives companies a competitive edge.\r\n<\/p>\r\n\r\n

\r\n\tBy coming up with innovative ways of doing things, it might help to ensure your DCE project becomes a success.\u00a0 In an era where business and tech mesh so frequently, customers want to see better digital services. But innovation doesn\u2019t just happen, it must be instigated.\u00a0\r\n<\/p>\r\n\r\n

\r\n\tCreate an Innovative Environment.\u00a0<\/strong>Encourage innovation as a value. Ensure your colleagues\/team members know that it\u2019s good to share ideas and identify new ways of doing things. Sometimes inaction is the biggest detriment to a project.\r\n<\/p>\r\n\r\n

\r\n\tCultivate your project member\u2019s creativity and innovation \u2013 implement tactics such as brainstorming groups, suggestion boxes and time and space during the working day for creativity.\r\n<\/p>\r\n\r\n

\r\n\tPositive reinforcement will help to foster an innovative culture.\r\n<\/p>\r\n\r\n

\r\n\t\u00a0\r\n<\/h3>\r\n\r\n

\r\n\tHow Does Lean Startup Help?<\/strong>\r\n<\/h3>\r\n\r\n

\r\n\tBy using the Lean Startup approach, you can develop a process around the development of your product or service, creating order and using tools to test your vision continuously throughout the product (in our case project) development stage.\r\n<\/p>\r\n\r\n

\r\n\tThe Lean Startup methodology has the user or customer in mind from the beginning.\r\n<\/p>\r\n\r\n

\r\n\tThere are 4 core principles in the Lean Startup Methodology.<\/strong>\r\n<\/p>\r\n\r\n

    \r\n\t
  1. \r\n\t\t\u00a0Entrepreneurs are everywhere.<\/strong>
    Anyone with an idea for a project can apply the Lean Startup Methodology. No matter the size of your project or whether you\u2019ll be working from your college, your bedroom office, or your garden shed, you can use the Lean Startup approach to save time, money and resources, and to ensure your startup is successful.\r\n\t<\/li>\r\n\t
  2. \r\n\t\tEntrepreneurship is management.<\/strong>
    Many companies, or in our case projects, assume that they don\u2019t need to worry about things like management as they are so small. Like any company, management is essential. It may not look like traditional management in the sense there is less protocol, but management is necessary to be able to react in difficult situations, to liaise with stakeholders, and to guide coworkers\/ volunteers with decision making and risk taking that may affect the outcomes\r\n\t<\/li>\r\n\t
  3. \r\n\t\tValidated learning.<\/strong>
    Validated learning means the startup conducts experiments to get results and base all future decisions on relevant scientific data from these results.\u00a0Looking at the data gives a startup a strong idea on whether or not their business is viable and sustainable.
    An DCE project must identify if their product or service solves a problem in the market \u2013 if not, it cannot be sustainable. The project must adapt in order to become a success.\r\n\t<\/li>\r\n\t
  4. \r\n\t\tInnovation accounting.<\/strong>
    In order to create a successful and sustainable project, we must focus on a different kind of accounting: monitoring progress in an objective way, prioritizing work and setting up milestones for the project, and making decisions based on the results of data.\r\n\t<\/li>\r\n<\/ol>\r\n\r\n

    \r\n\t\u00a0\r\n<\/h3>\r\n\r\n

    \r\n\tSustainable Business Model Canvas<\/strong>\r\n<\/h3>\r\n\r\n

    \r\n\tThe Sustainable Business Model Canvas is a useful tool to develop an idea into a viable business model. It focuses on making sure the relationships both inside and outside of the project work holistically. It can also identify the ecological and sociological consequences of the project.
    It is relevant to student digital civic engagers. It aims to increase positive impacts on society and decrease negative impacts.\r\n<\/p>\r\n\r\n

    \r\n\tSteps in the Sustainable Business Model Canvas<\/strong>\r\n<\/p>\r\n\r\n

    \r\n\tStep 1:<\/strong> Familiarise yourself with the 11 key elements grouped as follows:\r\n<\/p>\r\n\r\n