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6 Methods to Analyze the Viability of your Startup’s Business Model

They will help you define what you offer, how you will do it, to whom you will sell it and how you will generate income.

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A business model is a tool that allows us to define what we offer in the market, how we will do it, who we are going to sell and how we are going to generate income, why is it good to define our business model? how can one be able to generate income through our business? A business model consists of a dynamic that, on the one hand, satisfies a need, and how is it satisfied? With a certain position in the chain of value, perceived and valued by the client, and on the other, it creates economic value and must talk about how it is created or monetized.

The six methods to analyze the viability of your startup’s business model are:

1. ABELL FRAMEWORK FOR STRATEGIC MAPPING

“The whole strategy must be able to answer the following questions: who is referring to your product and how will it be solved?”

2. CANVAS MODEL

“This ‘canvas’ captures a view of who your customers are, your value propositions, and their purposes and sources of income, and it is a very simple tool that helps to formulate and test hypotheses.”

3. PESTEL ANALYSIS

“These acronyms represent six areas of the environment that should be analyzed: political, economic, social, technological, ecological and legal.”

4. SWOT ANALYSIS

“It is used to identify the opportunities, risks, strengths and weaknesses of a company.”

5. BLUE OCEAN STRATEGY

“Devised by two Insead professors, Chan Kim and Renée Mauborgne, it consists of searching for markets, niches or different approaches to everything that exists, instead of continuing to fight in ‘oceans tinged with red’ by the fierce competition. it’s not getting better results than the competition, but forgetting about it and focusing on creating value.”

6. MCKINSEY MATRIX

“The consultancy designed a matrix that represents the competitive competence of a company in different fields or sectors and, on the other hand, the attractiveness or potential of each of these sectors.” It is a very simple and visual way to identify where to increase, maintain or reduce investment.”

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