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I’m stuck on a Business question and need an explanation.
To complement your prior analysis, this week’s interviews should focus on the Business Model, with the interviewees being those with insights on the below questions. Your insights and plans in this Business Model chapter should also be informed by your primary research and secondary research.
The Business Model chapter of the business plan to be authored this week should address:
- How will you make money? How can you lose money?
- How will you price the product/service? Are there comparably priced solutions in your market? Are there other surrogates you can use to ballpark the price?
- What are the major dependencies of your business model (staff, suppliers, expertise, rapid adoption, validation, breaking through noise barriers, etc.)?
- What is the key metric to determine if your business is a success? When will you reach this milestone?
- Are there follow-on or derivative products/service and/or revenue streams you need to consider as part of the overall business?
For this Business Model chapter, a 2-3 page single-spaced length is appropriate. Tables, graphics, and related visual tools to efficiently communicate key information is encouraged.
Be sure to support your analysis and decisions with research and references. References may be included in APA format.