Learn How To Be An Entrepreneur

What is a Business Model Canvass? The Business Model Canvas (BMC) is a strategic management tool to quickly and easily define and communicate a business idea or concept. It is a one page document which works through the fundamental elements of a business or product, structuring an idea in a coherent way. The right side of the BMC focuses on the customer (external), while, the left side of the canvas focuses on the business (internal). Both external and internal factors meet around the value proposition, which is the exchange of value between your business and your customer/clients. How to use it VALUE PREPOSITION It is about the product or services that your are building,and solving a need or problem and satisfying the customers. It is not about your idea or product since the customers d o n ' t c a r e a b o u t y o u r technology. CUSTOMER SEGMENTS Customer Segmenting is the practice of dividing a customer base into groups of individuals that are simil...

Good founders maintain a direct connections to their users. In business, there is no middleman. If you are the founder, it is your job. It is in your job description to talk to customers. Only two things that must be done to search your company: (1) Build the product, and (2) Talk to users Three common errors you probably make when talking to user: The Mom Test 1. Talk about their life, not your idea 2. Talk specifics, not hypotheticals 3. Listen, don’t talk 3. Listen, don’t talk Five great questions you can ask in every user interview 1. What’s the hardest part that you do when trying to solve the problem? (Set the context, e.g. if I want to build the memory app, then what’s the hardest part of trying to remember these ideas). 2. Tell me about the last time you encountered that problem? (This is to understand circumstances of encountering this problem. e.g. for the brainjam app, I encountered this morning on my way to th...