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Limited Times Case Study: Lean Canvas
Transcript of Limited Times Case Study: Lean Canvas
The Lean Canvas
The original model of Limited Times initially employed their Minimal Viable Product (MVP) of determining the copyright status of books published in America.
This structured their company to target academic institutions including universities, libraries, archives, and the academics themselves.
With this model coders and market teams were crucial. In addition Limited Times relied on sales teams and student labor to research different networks where the Durationater would be an asset.
Lastly, revenue streams were seen through individual or department use. That being said, during the early stagesthey focused on partnering with academics to perfect the way they packaged their material, so much of their work was done pro bono.
The Lean Canvas business model is used to help startups pinpoint the different aspects of an organization including; value propositions, customer segments, customer relationships, channels, key partners, key activities, key resources, cost structure, and revenue streams.
What value do we deliver to the customer? What is the minimum viable product (the most basic version of a product that could serve as a prototype to survey useage)?
Whom are we creating the product for? Who are our most important customers?
How do we get, keep, and grow customers? How are they integrated with the rest of our business model?
Through which channels do our customer segments want to be reached? How do other companies reach them now? Which ones work best?
Who are our key partners? Who are our key suppliers?
What key activities do our value propositions require?
What key resources do our vaue propositions require?
The Durationater determines the copyright status of any type of material.
Private market attorneys
Museums & archives
General Market: academics
The majority of current customer relationships are testing partners. Meaning that Limited Times has worked with them to prefect their services. Examples of these are:
University of Michigan
Tulane University Jazz Archive
Limited Times' services are delivered through the Durationater, which is an online platform.
The existing key partners of Limited Times are;
Thomson Reuters: Compumark
The key resources needed for the operations of Limited Times are:
Distribution and sales team
The key activities needed for the value proposition are:
Individual Customer Markets
Although Thomson Reuters provides a strong customerbase, Limited Times should pursue individual customer markets otuside of that licensing agreement. I believe this will open up a new revenue stream and cost structure and make the product more accessible for less established organizations.
What are the most important costs inherent to our business model?
What is the revenue model? What are the customers willing to pay for?
The cost structure is based on the licensing agreement with Thomson Reuters. Limited Times has not yet pursued individual cost structures.
The revenue streams come from the licsensing agreement with Thomson Reuters. Thomson Reuters pays a fixed fee per amount of work which fluxuates depending on the type of work being evaluated.
Improve Web Presence
Another thing to focus on in the future would be Limited Times' web presence. This can be done through branding, website development, and creating social media accounts.