Finding a working business model

Six key lessons.

Old architecture and new architecture divided diagonally by a line.

Find a working business model for your innovation project within the upcoming 3 months.

Here are 6 key lessons I've learned during the past 8 years:

𝟏. Forget about all your market research and start with a clean sheet.

𝟐. Talk to about 120-160 people spread over 12-16 experiments.

𝟑. Don't sell your product; learn everything about your customer's behaviours, emotions and problems.

𝟒. Pick the best-fitting earnings model you can find (There's more than just a subscription model out there!).

𝟓. Pitch your value proposition face-to-face, including your earnings model, and get at least a 40% commitment.

𝟔. Build your business case and unit case only after you've got commitments.

I hope this is helpful.

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Don't create unicorns,

Let's breed blue whales.

🐋