Highly scalable business models
“Highly scalable business models” are the four magic words to quickly hook most venture capital investors, but what does this mean?! In essence, scalability means how easy the business is growing. Now, this raises a new question. If scalability refers to the “ease of growth” then what decides the…
Building your ‘Minimum Viable Product’
The main purpose of your ‘Minimum Viable Product’ is to quickly see the essence of your idea in action and test your key hypothesis to minimize errors with the minimum amount of effort and resources. Some of the main benefits resulting from building an ‘MVP’ for your idea are: Initial model.…
Business model hypotheses
Prototyping After you developed your business model, you will have to think about a prototype of your product or service. The ultimate goal of a prototype is to ‘answer questions and to generate new ones’. In this sense, a prototype is a plan for how it works; a physical test-version of a product,…
How to develop a business model
Before we covered what a business model is and now we want to go into how to develop a business model. In order to build a business model you need to cover at least four elements. What do we sell? This is called the value proposition. To whom do we sell it? This is your customer. How do we…
What is a Business Model
If you think of a scale model of a car, a ship, or a building, they all share the same core principle: they are very simple and basic representations to better visualize a solution before making large investments to build it and take it to the market. But what is a business model?……
Types of Market Research
Market research is the process of gathering, analyzing and interpreting information not only about the market and the product/service to be offered, but also about the past, present and potential customers for this product/service. The ultimate goal of any market research is to gain insights about…
What is IoT
A global area where digital technologies, especially the internet of things or “IoT”, are really making an impact is the smart city innovation. Currently more than 250 smart city projects are going on in 178 cities worldwide with the aim to “provide more efficient services to citizens, to monitor…