Episode 4 – Navigating Your Environment
Now it is time to test your business model in the real world. As you learned in your previous models, some things are within your control while other are not. Mapping the environment is critical if your business model is to fight for survival. Identify market forces, key trends, industry forces and macro-economic forces that will need to be considered in your business model.
When you have mapped you environment you can ask, does your model have a competitive edge today?
Is your model prepared for emerging trends?
Is your model in line with evolving customer needs?
How will your model adjust to macro-economic shifts?
While these questions may stress you and your business model, successfully navigating through these obstacles will help to assure your success.
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.