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The Business Model

The Business Model. Dr. Jeff Cornwall Jack C. Massey Chair in Entrepreneurship Professor of Entrepreneurship CEO of Entrepreneurial Mind, LLC. So What ’ s All this Talk about the Business Model?. Building a Business Model. The Business Model Canvas. Business Model Canvas.

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The Business Model

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  1. The Business Model Dr. Jeff Cornwall Jack C. Massey Chair in Entrepreneurship Professor of Entrepreneurship CEO of Entrepreneurial Mind, LLC

  2. So What’s All this Talk about the Business Model?

  3. Building a Business Model

  4. The Business Model Canvas

  5. Business Model Canvas Source: Osterwalder, A, and Y. Pigneur. 2010. Business Model Generation. Hoboken, New Jersey: Wiley.

  6. Business Model Canvas Most common mistake? Starting here!!! Source: Osterwalder, A, and Y. Pigneur. 2010. Business Model Generation. Hoboken, New Jersey: Wiley.

  7. Business Model Canvas How? What? Why? Who? How much? Source: Osterwalder, A, and Y. Pigneur. 2010. Business Model Generation. Hoboken, New Jersey: Wiley.

  8. Business modeling should always be driven by a Null Hypothesis

  9. Business Modeling is Dynamic

  10. The Story of Max Levchin

  11. Max Levchin • Immigrated with his family from Ukraine (then part of USSR) • Degree in computer science from University of Illinois • Co-founded Fieldlink

  12. Cool Technology Lots of Opportunity

  13. Plan A Plan B Plan C Plan D Plan E Security & Encryption

  14. Plan F

  15. Plan G?

  16. Lesson of Max Levchin? Plan A Plan B Pivot Points Getting to Plan B, by John Mullins and Randy Komisar

  17. Customer Development:Testing the Business Model Search Customer discovery Customer validation Customer creation Company building Execution

  18. Customer Development:Testing the Business Model Verify every hypothesis in your business model – Get out and get real live data!!! Customer discovery Customer validation Customer creation Company building Pivot

  19. Customer Development:Testing the Business Model Adapt your business model until you can prove it works Customer discovery Customer validation Customer creation Company building Pivot

  20. Customer Development:Testing the Business Model Start with small steps into the market – test with real live customers offering them a simple version. Customer discovery Customer validation Customer creation Company building Pivot (repeat until proven)

  21. Execution Scale your marketing to fuel growth Customer discovery Customer validation Customer creation Company building Pivot

  22. Execution Build structure, systems, processes, and team Customer discovery Customer validation Customer creation Company building Pivot

  23. Even existing businesses can have business models get off track with the market

  24. Anything that won't sell, I don't want to invent. Its sale is proof of utility, and utility is success. Thomas A. Edison

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