#134 Define your business model

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The previous post talked about limiting space as a way to sharpen your focus as you develop your elevator pitch.  Once you have a sharp and focused story for your startup (remember, you don’t have to actually start a business to think like a startup), you need a more comprehensive plan. Enter the Business Model Toolbox.

You can get the book, or you can get the iPad app.

Don’t expect the book or the app to work miracles, if you are not a clear thinker, or if you have an aversion to thinking ahead and designing a solution, these may be of limited use. I’ve seen co-workers rush into a solution more than think thru and develop a design before implementation. Those who think and plan ahead are a joy to work with. Those who rush to a solution are a real pain to work with. I’ve rushed into solutions too, under pressure to put points on the board, or to display a bias for action.

When I am clueless, “thinking” is actually “learning.” I’m trying to figure out the problem, the domain it belongs to, I struggle with risk analysis and interdependencies. In such cases, I will come across as a clumsy amateur in my thinking/planning. If I have solved a similar problem before, and have a handle on the domain, thinking and planning is a joyful experience. I can save time, money, and aggravation, and also delight others when offering a solution.

Conclusion: before you jump into thinking and designing, establish how much you know about the problem and its domain. If there are gaps, fix those gaps via education. Or outsource/delegate the problem definition. Don’t try to cover up your ignorance under the garb of thinking/planning.

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