Startup 101: finding your business model
by Nagarjun Kandukuru, VP - Emerging Opportunities at ThoughtWorks on Oct 06, 2012
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Workshop at TiE Bangalore. ...
Workshop at TiE Bangalore.
Whenever a business is established, it either explicitly or implicitly employs a particular business model that describes the architecture of the value creation, delivery, and capture mechanisms employed by the business enterprise. The essence of a business model is that it defines the manner by which the business enterprise delivers value to customers, entices customers to pay for value, and converts those payments to profit: it thus reflects management's hypothesis about what customers want, how they want it, and how an enterprise can organize to best meet those needs, get paid for doing so, and make a profit.
This workshop will help entrepreneurs identify and validate their business model - which is a basis for a sound business plan. It will combine theoretical inputs with hands-on work, enabling experiential learning and validation of concepts introduced.
Concepts such as "Business Model Canvas" and "Minimum Viable Product / Service" will be explored. And participants will have an opportunity to use these techniques in developing and evolving their own business concepts.
If you are an entrepreneur looking at validating your business idea, or looking at scaling your business you could gain from this workshop. Also if you are a manager managing a business in an enterprise and want to expand or diversify you will have many take away's for your need.
Take away's from the workshop:
Development of an initial business model
Understanding of what constitutes the "Minimum Viable Product / Service" for the business
Validation / refinement of the business model with actual customer feedback
Develop foundation for a sound business plan.
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