[ENT 601] - Midterm Exam Guide - Ultimate 15 pages long Study Guide!

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Udacity 1. 5 a business models and customer development. A business organization that sells a product or service in exchange for revenue/profit. Highlighting revenue and profit allows you to see clearly if the company is in success. What"s a start-up: a temporary organization designed to search for a repeatable and scalable business model. Temporary the goal of a startup is to become a full sized company, not a startup. Designed to search for business model that works all of the time and are. Most efficient way to see all the pieces of a company is through a business model. What is a business model: how a company creates value for itself while delivering products or services for customers. It"s (cid:374)ot a(cid:271)out your produ(cid:272)t or idea, it"s a(cid:271)out solvi(cid:374)g/satisfyi(cid:374)g a pro(cid:271)le(cid:373) or a (cid:374)eed for a customer. Custo(cid:373)ers do(cid:374)"t (cid:272)are a(cid:271)out your te(cid:272)h(cid:374)ology, they are tryi(cid:374)g to solve a problem (accounting, word processing) or needs (entertainment, communication).