Assessing Your Business Model
In entrepreneurship, there is no such thing as a perfect business model. It’s actually a “business guess”. What matters here is 2 things.
1. A complete business model canvas shows if there are any glaring holes in your idea and also shows that you have a plan for each “piece of the puzzle.” Have a mentor review your business model and rate each sub-section on it’s viability from their opinion.
2. When an investor understands the business model, does it give them a good gut-feeling? Is it believable? Are there any major unproven assumptions?
Complete the following sentences to help score your business on it’s Qualitative Value
• This model adds value to the world by … and helps solve the common problem …
• There is precedent for this model, looking at ..