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Category: Entrepreneurship

Business Model (VI)

Business Model (VI)

Once we know our customers and how to reach them the next step is to see what we need in order to make the whole project a reality. What we really need in order to get it going. Key Resources Which key resources does our value proposition require? Let’s take the example of building an app, which might be the things that you need in order to build it and create the company? Intelectual: Know-how in order to be able…

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Business Model (V)

Business Model (V)

As you start creating your startup one of the things that you will notice is that many times your advantage is not about the software you have but rather about your business model and your brand. If you are in this situation something that can help a lot is to try to build your brand and position yourself as an expert in the field. This is important because we can divide the sale cycle into 5 elements: Awareness, Evaluation, Purchase,…

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Business Model (IV)

Business Model (IV)

As you start creating your startup one of the things that you will notice is that, many times your advantage is not about the software you have but rather about your business model and your brand. If you are in this situation something that can help a lot is to try to build your brand and position yourself as an expert in the field. This is important because we can divide the sale cycle into 5 elements: Awareness, Evaluation, Purchase,…

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Business Model (III)

Business Model (III)

StartUp Brading As you start creating your startup one of the things that you will notice is that many times your advantage is not about the software you have, but rather about your business model and your brand. If you are in this situation something that can help a lot is to try to build your brand and position yourself as an expert in the field. This is important because we can divide the sale cycle into 5 elements: Awareness,…

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Business Model (II)

Business Model (II)

Understanding the Channels Now that we know why channels are important and that they actually don’t finish their role until the second sale (or continuation of the subscription), the next step is to understand better the different options of channel. Choosing a Channel This is the first question that could come to us, which is, how do our customers want to be reached? Which are the channels that they are already using? Which are the channels where they are expecting…

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Business Model (I)

Business Model (I)

Understanding the Channels A simple way of understanding channels is to think of them as the way in which we can reach our customers. So as always the approach will be to see how we can reach our customers while generating the smallest amount of resistance possible. The Function of a Chanel Channels serve several functions, including: • Helping customers evaluate a company’s Value Proposition • To allow customers to purchase specific products and services • To Deliver a Value…

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Value Proposition (IV)

Value Proposition (IV)

Once you have started to get an idea of which is the exact problem that you are trying to solve and why it is important for your customer segment the next step is to understand your customers and their situation even better. The next round of questions starts by asking: How expensive is the actual problem? How much does it harm the customer? Which chunk of the market goes to this? How much money are they spending on trying to…

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Value Proposition (III)

Value Proposition (III)

Blanc Framework This framwork is used to validate the opportunity our project might have in the market. It is based on trying to understand whether your problem is blanc (whether is it a blatant and critical problem). Problems can be broadly divided into blatant vs latent & aspirational vs critical based on the need that the customer feels to solve them. The customer has to consider them important enough, or at least we have to find a way to present…

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Value Proposition (II)

Value Proposition (II)

The first step of asking your customers more, might not be enough to be sure that it can be a hit. The opinions of customers are only one of the many factors that we have to take into account. We also have to know whether it is a problem that they have to face a lot or if it only happens from time to time, whether it is urgent or whether there aren’t already other options trying to solve it…

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Value Proposition (I)

Value Proposition (I)

The value proposition is one of the most important things for all startups. It says exactly what you are offering and to who, it is the heart of your business model. A great way to see if you have summarized your value proposition is to see if you can fill the sentence. For (target customer) who are dissatisfied with (current alternative) our product provides which is unlike (product alternative). Believe it or not it is harder than one could imagine…

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