CRI 400 Lecture Notes - Lecture 3: Minimum Viable Product, Value Proposition, Business Model Canvas
9 Feb 2016
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**there"s uncertainty everywhere, so do a fit and gap analysis. Biz model: describes how your startup creates, captures, and delivers value. Revenue model all sources of 22084$ eg. restaurant: food, condiments, catering, drinks. Museum: gift shop, admissions, private events, donations, audio tours, membership. Break down each source by category--different drivers (something that helps you make money) Ex. musicians songs: frequency 1, because people will only buy 1 (1 version), can"t change price--could find more people and make more songs. Find people via social media or collaborate or tour or run ads merch: could increase number of things you sell, e. g. shirts and posters and pins. Managers focus on controlling costs, but entrepreneurs let costs be--they focus on making more rather than spending less. Exhaust revenue options, then look at costs. Break down parts of business, have common language between different departments. Very operations based before, long lead time and inefficient.
