Episode 3 – Prototyping
Now you are ready to use the Business Model Canvas to explore different business models. Thinking broadly, you can experiment with tweaks to your model to discover which has a the greatest market opportunity. And don’t be afraid to look at other successful and disruptive business models in other industries to see how you might achieve a similar disruption. There are key points to remember; focus on the business model, don’t fall in love with your first models, and iterate rapidly and test your models early in the real world.
In this six-part video series on the “Business Model Canvas” from The Kauffman Foundation you’ll learn the steps needed beginning with putting a framework around your idea, creating an MVP or prototype and then presenting it. Created with the founders of Strategyzer, these short, animated videos are designed to help you build a scalable and profitable business model. You’ll learn essential and critical concepts such as how to ensure your startup has a competitive edge, how to leverage environmental opportunities and how experimentation and innovation is important in fully developing your concept.
If you stumbled across this post you’ll be sure to want to start with Episode 1 so you don’t miss anything. And be sure to visit from The Kauffman Foundation and Strategyzer websites for even more help.