Increasing the value of your disruptive innovation
If you have a disruptive innovation and a sound value proposition, why would your sales still not be as high as expected? This is what often happens to the most innovative solutions. Consider the example of electric vehicles (EVs). Car firms still seem to struggle to break into the mainstream…
Creating customer value
The value proposition is all about creating customer value. But how do you do this? A value proposition describes why a customer should buy a product or service. In fact, it should target a very well-defined customer segment and convince potential customers that the product or service will add…
Who is your End User?
Once you have identified your beachhead market, you dive into it for a detailed analysis of your End User Profile. In the article “Know your customer” we already covered that you have to know which product or service your customer wants as well as who the Decision-Making Unit is. Now, using…
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.…
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?……
