Lesson 4: Iterating Your Business Model 7 min.
Innovation alone is not enough. In this lesson, you will learn how to organise your idea in a clear and succinct manner, using helpful entrepreneurial tools to visualise your idea.
Lesson 4.1
Variations To The Business Plan
Learn when to use the right business plan.
1 min.
Lesson Notes
Two types of business plan
Pitching Plan – Business plan used to show your business model
Operating Plan – Plan used by employees to understand what to do next
Lesson 4.2
Prototyping
Diamonds are forever, but not your business model. Find out why here.
2 min.
Lesson Notes
Focus on the business model
Don’t fall in love with your first model
Iterate rapidly and test your models early
Lesson 4.3
How To Iterate Your Model
Changing up your business model is inevitable in order to be relevant. Learn the right way to do it.
4 min.
Lesson Notes
Be prepared for both positive and negative feedback
Iteration may be difficult but it leads to a better product.
Products and business require constant iterations.
For a business to thrive, iteration is essential
If you didn’t need to iterate for a while, you haven’t been listening enough