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Business Model Generation
The most important part of the planning process in starting a new venture is putting together the business model. A business model communicates all of the activities that affect how the firm competes in the marketplace. Investors want to know how the business will deliver value – to customers, partners, employees, and shareholders. Articulating a…
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Different Ways to Expand Your Business
Sooner or later growing businesses will reach a point where they have saturated their current market. After all, there are only so many people who are willing to rent movies from a kiosk. But that did not stop Redbox from figuring out a different way to grow. According to Inc. Redbox and Verizon are now…
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Fund a New Business Concept with Kickstarter
Got a great new idea for a venture and need some money to get it going? Consider Kickstarter. Kickstarter (http://www.kickstarter.com/) is a web based funding platform focused on a broad spectrum of creative projects. The hope is to fund projects like albums, films, and specific works of art, science or business with real business models.…
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Business Models and Customer Segmentation
One of the most important steps in creating a business model for a start-up enterprise or for a new product line is the definition of the target customer segments. Typically the customer segment definition focuses on the needs or wants of particular groups of potential customers. But how does one find these needs or wants?…
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Validating New Business Ideas
So you have a great idea. Let’s assume that the idea is the basis for a new business concept. To validate or test the feasibility of the new idea, I recommend starting with the customer and working your way back to the company or idea sponsor and ultimately reconciling with the investor. The acid test…