Muhammad Yunus, Nobel Peace Prize winner and founder of The Grameen Bank, explains his “social business” model, a plan for addressing social issues through entrepreneurship.
Tag: business model
The minimum viable product (MVP), as defined by Eric Ries in his book the Lean Startup, is a learning vehicle. It allows you to test an idea by exposing an early version of your product to the target users and customers, to collect the relevant data, and to learn form it. For instance, to test the viability of using ads as the major revenue source, you could release an early product increment with fake ads, and measure if and how often people click on them.
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Once you have a model for your business, a business plan is important too. Rather than trying to figure out which template to use, try using one that can cater to mosr kinds of businesses. Click on the image below to acccess the web link for this
This is a great video that talks about the different frameworks and models that can help us to think about the entrepreneurship process and the questions we need to ask about our startup
One of the leading thinkers about business models is Alex Osterwalder, the authored the book Business Model Generation and articulated the Business Model Canvas. Osterwalder advises that entrepreneurs ask themselves the following questions about their business model as this may be helpful in identifying strengths and weaknesses in the approach to the business…
There is no magical way to predict if your business idea is going to take off or not. This entrepreneur however provides some insights on the kind of thinking that gives you some clues about the feasibility of your business proposition
Based on Ash Maurya’s Lean Canvas method of startup business models
The Lean Canvas is an adaptation from Osterwalds Business Model Canvas . There’s a clear delineation down the middle, on PRODUCT versus MARKET and here’s a brief description of each block and the order in which entrepreneurs need to think in order to put together a viable, practical business plan, on one page.
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