Module 6 Final Assignment — Defining Costs, Revenue, and Funding for Your Project
Congratulations! You've been doing an amazing job exploring the world of entrepreneurship. Now, it's time to take your project to the next level by defining how to deal with costs, plan for revenue, and secure funding.
You'll complete six tasks that will fill in the final two elements of your Lean Canvas: Cost Structure and Revenue Streams.
Task 1: Remember Your Project
Look back at your Lean Canvas model from previous modules. Think about:
- What problem does your project solve?
- Who is your target audience?
- What is your Unique Value Proposition?
Write a brief description (2–3 sentences) of the project you're working on.
Task 2: Costs and Expenses
Identify the different costs and expenses your project might incur. These could include materials, tools, packaging, technology, marketing, and more.
Your task:
- List at least three specific costs and expenses you expect to have
- For each cost, estimate the dollar amount you believe it will require
- Categorize each as: Direct Cost (COGS), Operating Expense, or One-Time Startup Cost
Example: If your project is about making handmade crafts, one cost could be materials like paper, paint, and glue — approximately $30/month.
Task 3: Revenue Sources
Explore the different ways your project could generate income (or funding, for non-profit projects).
Your task:
- List at least two revenue sources that would work well for your project
- Explain why each revenue source is a good fit — how does it align with your project's goals and your target audience?
Task 4: Funding Strategies
Imagine you need extra money to start or grow your project. How could you get the funds you need?
Your task:
- Explain in detail at least one funding strategy you would consider for your project (crowdfunding, government grant, angel investor, donations, etc.)
- Imagine you're presenting your project to someone who might invest or donate. What would you tell them about your project to convince them it's worth supporting?
Task 5: Complete Your Lean Canvas
Use the information from Tasks 2, 3, and 4 to fill in the Cost Structure and Revenue Streams sections of your Lean Canvas model.
Your completed Lean Canvas should now have all nine elements filled in:
- Problem
- Solution
- Unique Value Proposition
- Unfair Advantage
- Customer Segments
- Key Metrics
- Channels
- Cost Structure ← Fill in from Task 2
- Revenue Streams ← Fill in from Task 3 and 4
Share your completed Lean Canvas as part of your submission.
Task 6: Reflection
Write a brief paragraph (at least 100 words) about what you've learned during this assignment:
- How do you feel about managing costs for your project?
- What surprised you about identifying revenue sources or funding strategies?
- What financial skills do you feel more confident about after completing this module?
Submission Format
You may submit:
- Written responses to all six tasks (minimum 400 words total)
- A document with your completed Lean Canvas
- A short video walkthrough (3–5 minutes)
What We're Looking For
- Honest, specific identification of real costs with estimated amounts
- Revenue sources that genuinely match your project type and audience
- A funding strategy that makes sense for your project's goals
- A completed Lean Canvas showing Cost Structure and Revenue Streams
- A thoughtful reflection showing genuine engagement with the financial concepts