Entrepreneur's Toolkit

Building a Business Model and Strategy

How They Work Together

Key Topics Covered in This Chapter

•how the business model explains the way key components of the enterprise work together to make money

•examples of two powerful business models

•how strategy can confer competitive advantage

•a five-step process for formulating strategy and aligning activities with it

•why strategic thinking must be ongoing

 

After you’ve identified a money-making opportunity and created a plan for addressing it, answer these three important question:

1. How will our new business create value for customers?

2. How will it make a profit for us and our investors? ...