Discuss with your neighborwhat a business model is andwrite down your definition
Which elements did youmention when you defined abusiness model?
What is a business model really?“a business model describes the rationale of how an organizationcreates, delivers, and captures value”A. Osterwalder, et al.“the plan implemented by a company to generate revenueand make a profit from operations. The model includes thecomponents and functions of the business, as well as therevenues it generates and the expenses it incurs”Investopedia“The word youve entered isnt in the dictionary.”Merriam-Webster
Business model only for startups?• No!• Ecosystem might be different, principles are the same§ New product or service within existing company§ License your technology§ Release open-source software package§ Etc.
“Business model: a singlediagram that describes yourbusiness”“Business plan: a documentinvestors make you writethat they don’t read”Steve Blank
§ Cover page and ToC§ Executive summary§ Business description§ Business environment§ Industry background§ Competitor analysis§ Market analysis§ Marketing plan§ Operations plan§ Management / team§ Financial plan§ Attachments andmilestonesBusiness Plan Format