Steve Blank - How Is Your Business Modell

What is a business model anyway and have we determined this for our own startup yet? Anyone that starts with an idea and gets carried away with it will suddenly wake up when it comes down to making money. It wouldn´t be the first (and definitely not the last) startup with a great idea to fail due to a missing business model.

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Estimated reading time:1minute

We will begin with the mother of all questions on this tension-filled topic: What IS a business model anyway?

"A business model is the way a business generates value for itself while delivering products and services to its customers."

Sounds logical and easy right? Should have always been like that...but, it is not. In fact , in the past, it was about having all the functions and building the company around it. There was a sales department, a development department and you had a kind of organizational chart and just started. Since we have the "coolness" of a startup, we can go down different paths. I have released a diagram in Google Docs which you can download. There, our startup is divided into nine areas and we can note down how we think about the individual areas.

Take your time and think about the answers to each question. The more accurate you write down your answers, the clearer your next steps will be defined.

This article is written by our CEO, Bernd Korz. With his experience as an entrepreneur, he shares his vision about the lessons provided by Steve Blank. Join us every week for a new article on Steve Blank’s lectures.

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