Describe the solution, it’s pricing, any additional benefits offered, the distribution method, the communications strategy you would employ to sell it and approximate costs and gross and net profits.

Objective To present the key components of a business model in a one-page document. This week we will explore your own entrepreneurial idea and you will create a 1 page Lean Business Proposal and include a 50-word pitch of your original idea. Instructions Identify a problem felt by you, your friends, or family that really annoy them and design a commercial solution (Product or Service) that would solve the problem. Describe the solution, it’s pricing, any additional benefits offered, the distribution method, the communications strategy you would employ to sell it and approximate costs and gross and net profits. Start with the Problem and Customer Segments. If you appeal to everyone, you sell to no one. Your customers are the ones who pay for your service or product, users are not necessarily customers. Then, using the template below in the download section complete the following: Problem- list the top three problems your product/service is addressing Solution- what are the top three features of your product/service? Unique Value Proposition- What is the single, clear, compelling message that states why your product/service is different and worth buying? Competitive Advantage- What about your product/service means that it cannot be easily copied or bought? (think patents) Channels- how are you going to get to your customer? Customer Segments – Who is your target market? Be specific: Age, location, income, etc.. Key metrics- you’ll need to have measurable activities, so you need numbers here. Cost Structure- research the costs and write down the prices. You may want to attach a spreadsheet. Revenue streams- describe how you are going to make money. Estimate the amount of revenue you will make The follow video gives a basic example of how to complete the template, please make sure that your template is much more detailed and answers all of the questions listed above. https://youtu.be/uE34HsmT6E0 Below in the download section, you will find the required template to complete and submit. Deliverables You will create a 1-page Lean Business Model Canvas of your original idea. Include a 50-word “pitch” of your idea.