@cowanSF: This is an excerpt from www.alexandercowan.com/speaking . For tutorials and templates on how to do all this, you can try www.alexandercowan.com/resources. The rest of this case study is here: www.alexandercowan.com/speaking.

1. Copyright 2012 Cowan Publishing
PLANNING/
LEAN STARTUP
THE PENNY
ICE
CREAMERY
ALEX COWAN
AlexanderCowan.com
@cowanSF

2. Copyright 2012 Cowan Publishing
PRIORITY KEY ASSUMPTIONS
NEEDS
PROVING?
EXPERIMENTATION
1
Consumers in general want an
artisinal ice cream experience
No
- National case studies to look at
- Trends from nat’l rest. association
- Interviews with successful peers
1
Santa Cruz is an adequately
large market
Yes
- First shop (Could have done
farmer’s markets)
1
Customers do not require 31
flavors on a regular basis- a
fresh rotating stable of flavors is
preferable
Yes - Experimentation at first shop
1
Penny can provide an artisinal
experience at costs that make a
business
Yes - Experimentation at first shop
1
High end ice cream is a small
luxury that performs well in bad
macroeconomic environments
No - Current and historical data
PLANNING

3. Copyright 2012 Cowan Publishing
PLANNING
businessmodelgeneration.com
What are the most important costs inherent in our business model?
Which Key Resources are most expensive?
Which Key Activities are most expensive?
Through which Channels do our Customer Segments
want to be reached?
How are we reaching them now?
How are our Channels integrated?
Which ones work best?
Which ones are most cost-efficient?
How are we integrating them with customer routines?
For what value are our customers really willing to pay?
For what do they currently pay?
How are they currently paying?
How would they prefer to pay?
How much does each Revenue Stream contribute to overall revenues?
For whom are we creating value?
Who are our most important customers?
What type of relationship does each of our Customer
Segments expect us to establish and maintain with them?
Which ones have we established?
How are they integrated with the rest of our business model?
How costly are they?
What value do we deliver to the customer?
Which one of our customer’s problems are we helping to solve?
What bundles of products and services are we offering to each Customer Segment?
Which customer needs are we satisfying?
What Key Activities do our Value Propositions require?
Our Distribution Channels?
Customer Relationships?
Revenue streams?
Who are our Key Partners?
Who are our key suppliers?
Which Key Resources are we acquiring from partners?
Which Key Activities do partners perform?
What Key Resources do our Value Propositions require?
Our Distribution Channels? Customer Relationships?
Revenue Streams?
Day Month Year
No.
Gourment food
experience
Participation in
sustainable foods
None--
Personal assistance
Retail sales
Catering
Ice cream artisans
Concierge staff
Process infrastructure-
ability to pasteurize from
scratch
Culinary innovation
Sustainable food-based
community organization-
events, education, and
initiatives
Farmers
Foragers
Artisans
Pseudo-fixed: labor
Materials
Fixed: plant
Downtown Patrons
Students
Visitors
Epicureans

4. Copyright 2012 Cowan Publishing
PLANNING
operations begin
2009 2010 2011 2012 2014 2015
Expenses (scaling: COGS+labor)
Visibility (~16 mo. to reasonable visibility)
Earnings (~break
even)
Revenue (hit 2014
sales target)
Financing (friends+fam.) (Lighthouse)

5. Copyright 2012 Cowan Publishing
PLANNING
Artisinal food movement- we have a passion
for ice cream
or persevere?’
A storefront business in SC has an
adequate market and is scalable
proposition
The store was the prototype
(above)
Was it true or untrue?
‘Pivot

6. Copyright 2012 Cowan Publishing
BUY THE BOOK
A practical primer for anyone
wanting to actually implement
today’s best practices in product
development (available online or
at any major retailer)
VISIT THE SITE
Free talks, tutorials, and
resources for product
development and new ventures.
MORE?
ALEX COWAN
AlexanderCowan.com
@cowanSF

7. Copyright 2012 Cowan Publishing
www.alexandercowan.com/speaking(THE REST?)
@cowanSF
alexandercowan.com/blog
acowan@alexandercowan.com
alexandercowan.com/speaking