Define the problem you’re going to solve, then define the customers for which the problem will be solved. Next, identify the customer and the problem. After that, define a set of possible solutions. After, define a set of possible monetization strategies for that solution, test, and choose your business model. A business model design in … Continue reading How To Create A Business Model In Seven Steps
Author: Gennaro Cuofano
Gennaro is the creator of FourWeekMBA which target is to reach over two million business students, executives, and aspiring entrepreneurs in 2020 alone | He is also Head of Business Development for a high-tech startup, which he helped grow at double-digit rate | Gennaro is an International MBA with emphasis on Corporate Finance and Business Strategy |
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Business Experimentation: How To Test Digital Business Ideas
Business experiments help entrepreneurs test their hypotheses. Rather than define the problem by making too many hypotheses, a digital entrepreneur can formulate a few assumptions, design experiments, and check them against the actions of potential customers. Once measured, the impact, the entrepreneur, will be closer to define the problem. Define the problem by suspending the … Continue reading Business Experimentation: How To Test Digital Business Ideas
A Quick Introduction To Design Thinking
Tim Brown, Executive Chair of IDEO, defined design thinking as “a human-centered approach to innovation that draws from the designer’s toolkit to integrate the needs of people, the possibilities of technology, and the requirements for business success.” Therefore, desirability, feasibility, and viability are balanced to solve critical problems. Origin of the term design thinking While … Continue reading A Quick Introduction To Design Thinking
What Is Product-Market Fit? Product-Market Fit In A Nutshell
Marc Andreessen defined Product/market fit as “being in a good market with a product that can satisfy that market.” According to Andreessen, that is a moment when a product or service has its place in the market, thus enabling traction for the company offering that product or service. Who coined the term product-market fit? Andy … Continue reading What Is Product-Market Fit? Product-Market Fit In A Nutshell
What Are Biases Really And Why We Got It All Wrong About Biases
The concept of cognitive biases was introduced and popularized by the work of Amos Tversky and Daniel Kahneman since 1972. Biases are seen as systematic errors and flaws that make humans deviate from the standards of rationality, thus making us inept at making good decisions under uncertainty. That is the conventional definition, let’s see what’s … Continue reading What Are Biases Really And Why We Got It All Wrong About Biases
What Is a Business Model Canvas? Business Model Canvas In A Nutshell
The business model canvas is a framework proposed by Alexander Osterwalder and Yves Pigneur in the book Busines Model Generation enabling the design of business models through nine building blocks comprising: key partners, key activities, value propositions, customer relationships, customer segments, critical resources, channels, cost structure, and revenue streams. A quick intro to business models A … Continue reading What Is a Business Model Canvas? Business Model Canvas In A Nutshell