TECHNO week 6

• describes how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts.

  business model
• The process of business model construction and modification, and forms a part of business strategy.

  business model innovation
• Here are some examples of the most commonly used business models

  1. Manufacturer
  2. Distributor
  3. Retailer
  4. Aggregator
  5. E-tailer
  6. Franchise
  7. Bricks and Clicks
  8. Freemium
  9. Subscription
  10. SAAS
  11. Marketplace
• Your goal should be to figure out which model fits your offering the most and start using it.
• a strategic management and entrepreneurial tool. It allows you to describe, design, challenge, invent, and pivot your business model.

  Business Model Canvas
• a simple document that can help you cover the different parts of your business. This includes your offering in terms of product or service, your customer segments, your distribution channels, your finances

  business model canvas
• a great way for you to share details of your business in a brief and efficient way, in cases like:

  • Raising the interest of investors in your business model.

  • New potential hires, who want to learn more about your business


  business model canvas
• Why use the Business Model Canvas?

  Map Existing Business Models

  Design New Business Models

  Manage a Portfolio of Business Models
• Visualize and communicate a simple story of your business model.

  Map Existing Business Models
• Use the canvas to explore new business models whether you are a start-up or an existing business

  Design New Business Models
• Use the canvas to easily juggle between "Explore" and "Exploit" business models.

  Manage a Portfolio of Business Models
• a 1-page business plan template created by Ash Maurya that helps you deconstruct your idea into its key assumptions. It is adapted from Alex Osterwalder's Business Model Canvas and optimized for Lean Startups.

  Lean Canvas
• Lean Canvas is:

  Fast

  Portable

  Concise

  Effective
• Compared to writing a business plan which can take several weeks or months, you can outline multiple possible business models on a canvas in one afternoon.

  Fast
• A single page business model is much easier to share with others which means it will be read by more people and also more frequently updated.

  Portable
• Lean Canvas forces you to distill the essence of your product. You have 30 seconds to grab the attention of an investor over a metaphorical elevator ride, and 8 seconds to grab the attention of a customer on your landing page

  Concise
• Whether you're pitching investors or giving an update to your team or board, our built-in presenter tools allow you to effectively document and communicate your progress.

  Effective
• 9 blocks of the Lean Canvas

  Problem

  Customer Segment

  Solution

  Unique Value Proposition

  Channels

  Revenue Streams

  Cost Structure

  Key Metrics

  Unfair Advantage
• What problems are your customers facing?

  Problem
• is a homogenous group of customers who:

  • Experience a similar need

  • Can be offered a solution at a similar cost

  • Can buy a solution at a similar price

  Customer Segment
• What is the possible solution that your customer is ready to pay for?

  Solution
• is a compelling message that states why your solution is different and worth buying.

  Unique Value Proposition
• should answer the following questions:

  • How does each of your customer segments want to engage?

  • What should be their points of interaction?

  • How do you get, keep, and grow your customers?

  Channels
• the amount of money your customers are ready to pay for your solution and how

  Revenue
• Revenue can be:

  • Fixed revenue

  • Recurring revenue
• This section of the Lean Canvas should answer these questions:

  • What is the resulting cost structure?

  • What are the key elements that drive your costs?

  Cost Structure
• This section needs to include:

  • Key activities that you need to measure

  • Actionable, auditable, and accessible metrics

  Key Metrics
• when a solution cannot be easily copied or bought.

  Unfair Advantage
• assumptions that can result in a product's failure to perform in the marketplace

  Risky Assumptions
• Businesses have failed because their assumptions were wrong, and they didn't take the necessary precautions to address those false assumptions.
• Building a startup is all about being fearless and the ability to take risks. What sets apart the intelligent entrepreneur is the ability to know the risks that are worth taking and how to continuously work on mitigating them.As a startup founder and the biggest investor` in your business, you need to articulate the assumptions you are making and the risks you are taking, prioritize, test, and identify measures to mitigate them.
• three buckets that your main assumptions are going to fall under

  Product

  Market

  Business & Execution Capability
• After having identified the main assumptions the next step is to prioritize the riskiest assumptions.
• Prioritizing helps to identify the riskiest assumptions that can hit the business hard.
• This helps understand assumptions that you should not be worrying about at this point. This helps understand the right amount of resources and effort to be allocated to different assumptions

  prioritizing the riskiest assumptions