Lost in the canvases: Managing uncertainty in lean global startups

The main objective of this paper is to suggest a dynamic double canvas approach to business model development that would reduce ambiguity during the adoption of a specific business model canvas by executive managers of technology-based lean global startups. We start with a conceptual analysis and continue with empirical research approach based on four technology-based startups, two in Denmark and two in Canada, in order to justify the need for managers to start with the lean canvas, suggested by Ash Maurya (2012), and then shift to the business model canvas, suggested by Osterwalder and Pigneur (2010). The logic of such shift was conceptualized by focusing on the key differences between the lean canvas (problem, customer segment, solution, value proposition, key metrics and unfair advantage) and business model canvas (key partners, value propositions, key activities, resources, customer relationships). The second contribution consists in examining the application of business model canvases to the context of lean global startups by emphasizing the importance of relationships with global partners, the adaptation of the value proposition to different global markets, and the activities and resources specific to a particular global market. The third contribution is to provide a comprehensive categorization of risk that could be used within the context of lean global startups. The findings would be relevant for entrepreneurship scholars, researchers focusing on business model innovation and entrepreneurs. It should help entrepreneurs to adopt a dynamic approach to business model development that would reflect the realities of their competitive business environment.