METHODOLOGY ASSESSMENT 6 - Venture Creation: Business Model Generation

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A business model explains how your project, venture, or business is expected to logically _______________________.

The central question for a business model is "How do we fulfill our purpose to make a profit and share the benefits with stakeholders?"

If you plan to integrate several existing companies and their lines of business into one larger company, then your business model for the new business should be scoped to the ____________________ level.

What is the step of the business modeling process that involves generating, identifying, selecting, screening, and defining your idea?

Listening to other people, observing the behavior of yourself and others, and exploring ideas through research are great ways to ________________________ for a business model.

When an idea is attractive, durable and timely and is anchored in a product or service that creates or adds value for its end buyer or user or stakeholder, what is this type of idea called?

You need to select a business idea that will add value for all of your ____________________, because they will all affect the success of your business model.

When defining an idea, try to identify in advance any _____________________ that may make it harder to fulfill or realize the idea.

When moving from idea to concept, following an idea selection and screening process that is too rigid may cause you to _______________________________________________________.

Entering your answers to key business model questions such as "How do we relate to our customers over time?" into the Stratos Business Model Canvas can help you create a concept document and high-level _________________________________.

The business model canvas you create after answering the key business model questions is "the tip of the iceberg" that is undergirded by __________________________________________________________.

The external context variables (Environment, Ecosystem, etc.) that are outside of the central rectangle on the Stratos Business Model Canvas are not part of your business model.

After you identify and fill in the key points for all the components on the Stratos Business Model Canvas, you can use it as a/an ______________________ for your Concept Document.

As you get a better understanding of the business problem or need, you will be able to set boundaries that will determine the problem's ________________ , which will impact all the other components of your business model - including solutions, stakeholders, potential partners, required activities and resources, costs, revenues, and so on.

As you better understand the business problem or need, you will be able to set boundaries that will determine the problem's ________________ , which will impact all the other components of your business model - including solutions, stakeholders, potential partners, required activities and resources, costs, revenues, and so on.

When looking for a customer problem that your business can address, the problem whose solution is most likely to attract customers is something that will impact them _______________ if their need is unmet.

When you research and analyze potential problems, solutions, and other components of your business model, you should always try to identify and verify your _____________________ related to those things.

The Problem to Possibilities Matrix is a tool that helps with __________________.

If your solution does not __________________________ your customers, a business or venture based on that solution is not worth doing at all.

When you are identifying the customers for your business model, keep in mind that there can be more than one kind of customer. For example, those who use your solution and those who ____________________________________ may be different people.

Your business model needs to consider things like trust and transparency, which will affect your customer ______________________.

What is the term we use for methods you can use to distribute your solution, or to deliver messages to create awareness of your product or service, or to connect your customers to your business?

If your small farm owns a delivery truck that takes your farm products to individual customers' homes or open markets, what is this truck distribution method called?

One aspect of embedding principles of the new people-centric economy into your business model is to plan for "coopetition," which occurs when a competitor works with you as a/an _________________.

Your business model should include a high-level description of the key _______________________________ that are needed to help you implement your business idea or to help you develop, produce, market, deliver, and support your solution.

Your business model should include ways to monitor costs closely. Careful budgeting to reduce costs can often help you stay "in the black" more than increased sales and revenues early in the business or venture's life cycle, because _____________________________________________________.

We recommend that you include _____________________ revenue stream(s) in your business model to assure funders that your business or venture will eventually offer sufficient profitability and return on investment (ROI).

You will need to strengthen the value proposition in your business model several times as you go through the venture creation process. At first, your value proposition may not look compelling because it is not ______________________________.