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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…