lesson 3

Question 1

what is a company?

Answer 1

a business organization which sells a product or service in exchange for revenue and profit

Question 2

what do revenue and profit allow?

Answer 2

allow us to measure whether we are succeeding or failing

Question 3

what is a startup?

Answer 3

temporary organization designed to search for a repeatable and scalable business model

Question 4

9 components of a business model

Answer 4

1. value proposition
2. customer segments
3. channels
4. customer relationships
5. revenue streams
6. resources
7. partners
8. activities
9. costs

Question 5

question to ask yourself for value proposition

Answer 5

what are you building and for whom?

Question 6

question to ask yourself for customer segments

Answer 6

who is buying from you and why?

Question 7

question to ask yourself for channels

Answer 7

how does the product get to the customers?

Question 8

question to ask yourself for customer relationships

Answer 8

how do i get, keep, and grow my customers?

Question 9

question to ask yourself for revenue streams

Answer 9

how do i actually make money?

Question 10

question to ask yourself for resources

Answer 10

what do i need to make my business model function?

Question 11

question to ask yourself for partners

Answer 11

who do i work with, what exactly are we acquiring from them, and what activities are they going to perform and when?

Question 12

question to ask yourself for activities

Answer 12

what is the most important thing i need to be doing to make my business function?

Question 13

question to ask yourself for costs

Answer 13

what are my entire costs to operate the business model?