What the heck is a business model anyways?
There’s a long answer and a short answer to that question. The long answer can be found in many books and PhD dissertations.
The short answer can be summed up into four questions a la Seth Godin.
- What compelling reason exists for people to give you money? (or votes or donations)
- How do you acquire what you’re selling for less than it costs to sell it?
- What structural insulation do you have from relentless commoditization and a price war?
- How will strangers find out about the business and decide to become customers?
In this lesson, we’ll explore how you can use these questions to put your business model under the microscope.