BU121 Lecture Notes - Lecture 2: Tim Hortons, Aan, Uptime
Document Summary
What is meant by problem-solution fit and why it is so important. The formula for success in building your business and how the elements of the new venture project fit into this formula. The elements of the value proposition canvas and how they work together. The importance of talking to customers and how to do it. Talking to the customer and figuring out value proposition. Much of the "selling" that would otherwise have to be done has been taken care of by giving customers what they want, when they want it, and in the way they want it. -- textbook page 103. Success = great value proposition + profitable, repeatable and scalable business model + great execution. To be successful, you have to start with a good idea that provides good value. Iterate your ideas until you get it right. Can"t pivot -- instead turn idea into value proposition customers really want.
