Companies create business models to clearly define to their employees, customers and investors what their value is and how they can generate revenue. For our startup companies, there is a popular variation of a business model called a Lean Canvas that is specifically designed for the needs of a developing company. Its purpose is to help you to understand and frame your problem and your solution. The importance of filling out some organizer like this is that while in your head you may feel like you know all of these aspects surrounding your company, by actually putting pen to paper and writing them down you may discover you and your team members have differing opinions. Additionally, it is absolutely imperative to be able to concretely and explicitly define criteria such as those in this organizer to potential investors if you wish for them to take you seriously.
Creating your own Business Model/Lean Canvas
Going Forward Upon creation of the Lean Canvas, you effectively have everything you need to pitch your startup! In fact, if you completed the Lean Canvas then you are a well on your way as it has nearly everything you need for your final presentation (see the resources section of my website for the rubric)
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December 2018
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