Lesson 11: Business Model Pitfalls
13 min.
Stand on the shoulders of giants by learning from the biggest mistakes made other entreprenuers and avoid their pitfalls. In the last lesson of BMC, we will wrap up with an overview on the key learnings of the business model canvas.
Lesson 11.1
Top 10 Business Model Pitfalls
Before empirically testing your assumptions, you can get your initial plan to a stronger starting point and save yourself a lot of “learning” time by avoiding these common pitfalls.
11 min.
Lesson Notes
Top 10 Business Pitfalls
1. Don’t know how you’ll measure success
2. Marketing to everyone
3. Ending up on a local Maximum
4. Problem statements need to be speciific
5. No unfair advantage story
6. Weak Unique Value Proposition
7. Not enough runway
8. No Significant path to customers
9. No monetizable pain
10. Falling in love with the solution
Lesson 11.2
Business Model Canvas Summary
Wrapping up this section with an overview of the BMC. Check if you have missed any important points!
2 min.
Lesson Notes
Summary of Business Model Canvas
1. Customer Segments
2. Value Proposition
3. Channels
4. Customer Relationships
5. Revenue Streams
6. Key Resources
7. Key Activities
8. Key Partnerships
9. Cost Structure