Business models for dummies
If only all entrepreneurs read and internalized “Combining Business Model Prototyping, Customer Development, and Social Entrepreneurship” by Alexander Osterwalder. The world would be a much better place. The basic premise is that the search for a good business model goes through three stages:
- Designing a starting model
- Iteratively adapting your starting model in response to market feedback
- Scaling it when you nailed it
When you see startups run out of money, it’s usually because the companies skipped steps 1 and 2 and went straight to step 3 without the “nailing” part of it. Every entrepreneur should read this blog post.
