Entrepreneurship Research Guide : Business Model
This guide is a collaborative effort between the Wisconsin School of Business and the Business Library.
One: Describe the business model
- How will you earn revenue?
- What will it cost to acquire customers?
Two: Sharpening the ability to develop a business model
Characterize the customer value proposition: Will you help customers get more done? Will you save them time? Money? Will you overcome their lack of skills or access to information/resources?
Making money: Describe the customer segment (demographic data, behaviors). How you will reach them? What kind of relationship you will have to them?
Costs: What resources (people, land, equipment) do you require? What activities will you perform to make your product/service? Do you need any partners?
Why won’t a competitor copy your product/service?