Setting up a business
What is the meaning of customers’ problem?
The negative consumer experiences of your customers
The most significant challenges that they face in relation to your business idea
Potential difficulties that would customers have using your product
The reason why they would avoid buying your product
Why is it important to validate your business idea?
To realize if your business idea can actually work
To generate some revenue before actually launching your business
To feel motivated becoming an entrepreneur
To acquire some business competences
What is the most important for validating your business idea?
To create business assumptions and test them with real customers
To get feedback from family and friends
To develop a business model canvas
To put it on paper and make it look nice
What is the main benefit of drafting a business model?
You will be able to apply for a bank loan
You will be able to see the main logic and the workflow of your business
You will double the chances of your business’s success
You will have a presentation tool to approach your potential customers
What is the best starting point to draft your business model canvas?
Defining the value your product or service creates for your customers
Defining the ways in which you will generate revenues from your customers
Defining the groups of people or organizations you aim to reach and serve while understanding their needs perfectly
Summarizing the main costs related to your business