WEEK 6

Question 1

It describes how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts.

Answer 1

Business Model

Question 2

Examples of Business Model commonly used

Answer 2

1. Manufacturer
2. Distributor
3. Retailer
4. Aggregator
5. E-tailer
6. Franchise
7. Bricks and clicks
8. Freemium
9. Subscription
10. SAAS
11. Marketplace

Question 3

It is a strategic management and entrepreneurial tool. It allows you to describe, design, challenge, invent, and pivot your business model.

Answer 3

Business Model Canvas

Question 4

It is a simple document that can help you cover the different parts of your business. This includes your offering in terms of product or service, your customer segments, your distribution channels, your finances.

Answer 4

Business Model Canvas

Question 5

WHY USE THE BUSINESS MODEL
CANVAS? 3 reasons

Answer 5

1. Map existing business models
2. Design new business models
3. Manage a portfolio of business models

Question 6

It is a 1-page business plan template created by Ash Maurya that helps you deconstruct your idea into its key assumptions. It is adapted from Alex Osterwalder’s Business Model Canvas and optimized for Lean Startups.

Answer 6

Lean Canvas

Question 7

Building a startup is all about being fearless and the ability to take risks. What sets apart the intelligent entrepreneur is the ability to know the risks that are worth taking and how to continuously work on mitigating them. As a startup founder and the biggest investor` in your business, you need to articulate the assumptions you are making and the risks you are taking, prioritize, test, and identify measures to mitigate them.

Answer 7

Risk Assumptions