Why a business model is essential for your startup
An effective business model is an essential component for a startup, but where do you start?
Defining a business model can feel like a big deal for a new business. An effective business model is an essential component for a startup, but where do you start? By documenting a powerful one-page business model you can define the key business, product, marketing and financial aspects of your business.
We use a Lean Startup approach to create a business model that will set your business up for success.
Too often we see businesses who have created a long, complicated business plan they never update and never read. This is why we recommend creating a one page business model which is a neat and succinct way of explaining how a business creates value on a single page. You can pin it on a wall and refer to it every day to keep you on track.
First you must understand what problem you solve for your clients. When you know how you will help your client solve their problem, you can understand the value your client will gain from your solution. Then you can start capturing some of this value from your client to grow your business.
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