Module Two topics associated with the new venture realization roadmap.
As anyone following this blog for some time knows, I have written several posts on the Business Model Canvas (Start here). The main reason for this emphasis is that having a business model is vital to a new venture's success. Sometimes, entrepreneurs see it as an academic exercise and see no relevance to practice. Usually, … Continue reading From Idea to Launch: Validating Your Business Model at Every Stage
Innovation is essential for any business that wants to stay competitive and relevant in today's rapidly changing market. However, innovation is challenging, especially for large corporations facing bureaucracy, risk aversion, silos, and inertia. That's why many corporates are looking for ways to collaborate with startups, which are often more agile, creative, and disruptive. A startup … Continue reading Innovation at the Intersection: Startup-Corporate Partnerships
In a recent post, I spoke about the importance of applying a structured innovation process to develop and launch your startup. Furthermore, I argued that a reasonable approach would accommodate a variety of contexts, from startup to corporate innovation. This article focuses on using the venture realization process to develop social innovations that create value, impact, … Continue reading Maximizing Social Impact through Innovation
Over the past three blog posts, I have been exploring the application of the business model canvas to new venture realization. The focus is on startup iterations that facilitate the formulation of early assumptions about how your enterprise will provide value to the customer. To date, we have reviewed four BMC elements, Customer Segments, Value … Continue reading Provide Customer Value Repeatedly with Well-Designed Startup Operations
In the last post, we spent time looking at the first two BMC elements - Customer Segments and Value Proposition - as your starting point. Identifying your customer's needs, pain points, and desired outcomes are essential first steps to developing a successful venture. The alignment of these two elements establishes the focal point of the … Continue reading Consider Early Customer Engagement Strategies in Business Model Canvas
In the last post, I made the case that a startup has many good reasons to develop a formal business model early in the process. The reasons are plentiful, but a core reason is that it provides a way for the founder to investigate and, hopefully, validate the assumptions on how the enterprise repeatedly offers … Continue reading Business Model Canvas: Where to Start?
At Columbia Business School, many of us have adopted Alexander Osterwalder and Yves Pigneur's Business Model Canvas (BMC) as a template to guide students through the business model development process. Over the past few years, as we teach and discuss how best to apply the BMC to numerous new venture ideas, we have developed tools and approaches … Continue reading Is the Business Model Canvas still relevant for Start Ups?
As entrepreneurs, product developers, and innovators, we tend to get caught up in the technical functionality of our solutions. As I have stated before in this blog, founders tend to be enamored with their conception of the customer's solution rather than the problem itself. Many innovators begin by thinking about the functionality of their proposed … Continue reading Starting with Customer Outcomes
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