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2.Ten practical lessons from the business (revenue) models of ventures we reviewed today (or others you research) as they relate to your venture.
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- People don’t care about technology. They want to know exactly how buying your product will be of benefit to their day to day lives directly.
- One must build strong customer relations to sustain a successful venture. This can be accomplished by using customer feedback in order to further act upon your value proposition
- A new invention is not a requirement for social entrepreneurship. Any methods of creating added value for a group of people can be the basis of a venture.
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- Thinking about how everything will be paid for is very useful to evaluate the likelihood/validity of the business model.
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