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โ–ถ First there are a few enthusiasts who buy your โ–ถ First there are a few enthusiasts who buy your new product. If they like it, you'll be able to target some early adopters. This is where it gets critical. Can you rebuild, adapt, and expand your product so well at this point that the positive reviews and word of mouth marketing of the early adopters will get you to the early main stream customers?
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๐Ÿƒ "Crossing the Chasm", a book by Geoffrey Moore, deals with this very problem. A must read for any innovative entrepreneur who plans for a serious high growth business. Business consultants, coaches, and teachers should definitely this book too.
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๐Ÿ“™ Learn more about early adopters in my blog article on "Who will buy your innovative product?" at businessmodelscholar.com (link also in bio @businessmodelscholar).
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#crossingthechasm #thechasm #geoffreymoore #earlyadopters #earlymajority #diffusionofinnovations #startupgrowth #startuptips #businessownertips #businessadvice #businessconcept #entrepreneurshiptips #productinnovation #highgrowth #exponentialgrowth #growthmanagement #innovators #businessstudies #businessstudent #mbastudent #businessmodelscholar #learnfastwithbms #bmsbusinessconcepts
โ–ถ The Lean Canvas is another great way to make s โ–ถ The Lean Canvas is another great way to make sense of your business. NOW is a great time to fill out this template and learn about your own business by visualising it. You can also better explain your business to someone else if you visualise it. It takes about 30 minutes to fill out. Small step, bigger effect.
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๐Ÿ“™ Download the template and learn more about business models on my website, link in bio @businessmodelscholar.
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#businessinfographic #infographic #leancanvas #businessmodel #businessmodeldesign #businessdesign #businessmodelgeneration #businessmodelinnovation #valueproposition #revenuemodel #businessplan #freedownloads #businessownertips #businesstipsandtricks #businesstools #startupskills #startuptips #startuptools #businessstudies #businessstudent #mbastudent #businessmodelscholar #learnfastwithbms
โ–ถ Is that your experience too? ๐Ÿ˜‚ . Ben Horowi โ–ถ Is that your experience too? ๐Ÿ˜‚
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Ben Horowitz is a technology entrepreneur, author, and co-founder of the renowned venture capital firm Andreessen Horowitz.
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#benhorowitz #billionairequotes #venturecapitalist #venturecapitalfirm #techpreneur #ceoquotes #startupfounder #startupcommunity #startuplifestyle #startupceo #newbusinessdevelopment #newbusinessventure #howtostartabusiness #howtomakemoney #entrepreneurialspirit #businessstudies #businessstudent #mbastudent #bmsbusinessquotes #businessmodelscholar #learnfastwithbms
โ–ถ I have recently been asked by many aspiring en โ–ถ I have recently been asked by many aspiring entrepreneurs if I have any BUSINESS IDEAS to give away. Sure! Just check out my feed posts, my daily stories (also highlights) and subscribe to my website newsletter (or just read the articles). I have presented a number of ideas, but mostly they are just ideas, nothing super concrete. You'll have to do the research yourself.
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โš™๏ธ Also, every time I present a startup, it's meant to give people inspiration and ideas, to trigger their thinking, and show some useful and cool things that are currently being developed. You might like one of the ideas, create something similar and adapt it to the needs of your country. Great business opportunities are everywhere all the time!
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๐Ÿ’ก Here's another one. BukuWarung (@bukuwarung_) is a new app for the 60 million Indonesian merchants who have previously not had a good digital solution for their BOOKKEEPING. The app will later also allow for credit processing and tracing so that the creditors won't have to actually visit people at their home when they should pay back a loan. BukuWarung is changing the Indonesian market like KhataBook and OKCredit did in India. Does your country (or region) need something like this? Maybe this is your chance.
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๐Ÿ™ As a side note, I have personally been to Indonesia twice and both times were mind blowing. The country has some incredibly beautiful scenery and unbelievably friendly people. At the same time, there was so much that I didn't understand. And that always intrigues me... Have you ever been to Indonesia?
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#businessopportunities #businessidea #bukuwarung #indonesianentrepreneur #indonesianbusiness #indonesianstartup #businessinasia #asianstartup #asianentrepreneur #bookkeeping #bookkeepingapp #onlineplatform #onlinebusiness #indonesianmarket #onlinesolutions #onlinecredit #startuptips #startupadvice #businessownertips #entrepreneurshiptips #howtomakemoney #entrepreneurialspirit
โ–ถ How much do fans affect the result of a soccer โ–ถ How much do fans affect the result of a soccer game?
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A lot! ๐Ÿ˜ The German "Bundesliga" was the first major league in any sports to continue the season (in May). However, they did so without letting fans in the stadiums. This turned out to be a great natural experiment for all the old questions about the role of fans.
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โšฝ Data from the German Bundesliga show that the home team advantage decreased dramatically in games without fans in the stands. They lost more, scored less, shot less and worse, and fouled more. In fact, the home advantage almost became a disadvantage! Moreover, the studies found that fans affect referee behavior as well. When there are no fans, the referee is no longer a homer, possibly because of the almost non-existent burden of immediate crowd reactions.
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โ˜๏ธ These findings are not super surprising per se but they are super interesting because they show the importance of fans so clearly and on so many different indicators.
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๐Ÿ’ก IMPLICATIONS FOR ENTREPRENEURS? Find your fans, activate them, and be nice to them, always.
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Source: The New York Times 1.7.2020.
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#soccerfans #fanclub #truefans #sportsscience #datascience #dataanalysis #soccerdata #bundesliganews #germansoccer #homeadvantage #disadvantage #businessanalytics #insights #altinordu #startuptips #businessownertips #entrepreneurshiptips #howtomakemoney
โ–ถ Another way to visualize a business model. I'v โ–ถ Another way to visualize a business model. I've posted this before but I made a little update and I think this deserves to be posted again.
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๐Ÿ“ฃ Use the St. Gallen method if you want to keep it simple. Just explain what your value proposition is (what you offer), how you create it (your value chain or value network), and how you generate revenue with it. And don't forget to mention who the customer is.
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๐Ÿ—จ Basically, this is a short story of how your business works. You can use this framework to remember how you explain and visualize your own business model. Like my yesterday's post about the memory palace, this can be one way to memorize business models. The questions in a short form are WHAT, HOW, WHY, WHO.
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๐Ÿ’ก Learn more and download templates on my website, link in bio @businessmodelscholar.
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#businessinfographic #infographic #businessmodel #businessmodeldesign #businessdesign #businessmodelinnovation #stgallen #valueproposition #valuechain #valuenetwork #revenuemodel #businessownertips #businesstipsandtricks #businesshacks #businesstools #startuptips #startuptools #businessstudies #businessstudent #mbastudent
โ–ถ Remember how Sherlock Holmes uses a mind palac โ–ถ Remember how Sherlock Holmes uses a mind palace to remember things? Maybe soon you too can develop your memory by creating visual spaces in your mind through VIRTUAL REALITY.
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๐Ÿ˜Ž Hippocampus, a Londoner startup at Imperial College, is an immersive virtual reality solution for those who need (or want) help with their long-term memory. The solution allows users to build and share their own MEMORY PALACE in a virtual 3D environment supported by machine learning.
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๐Ÿก The memory palace is an ancient Greek technique used by 9 out of 10 world memory champions. It works by picturing a familiar place like home and placing the information there in the form of a story. However, this method requires a lot of effort and it doesn't allow for anything visually tangible or collaboration or saving the information for long periods of time. Therefore the new virtual reality solution by Hippocampus may not only help for Alzheimer's disease but also be a huge contribution to our memory development! ๐Ÿ’ช
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#virtualreality #machinelearning #londonstartups #imperialcollege #sherlock_holmes #mindpalace #memorypalace #memorychampion #longtermmemory #alzheimersdisease #memorydevelopment #3dvisualization #newtechnologies #techtrends #techpreneur #cumberbatch

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Business models

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