CHAPTER THREE
Ideas Are Great but Business Models Rule
For the majority of entrepreneurs, coming up with an idea or a solution to a problem is what they focus on—to the point of ignoring whether or not there is a solid business model that can be created to support a potential company. This is critical moment for a young start-up. Realizing exactly what is working and what is not working in the context of a business model could likely be the most strategic decisions an entrepreneur can make. Let me give you an example.
Imagine Jeff Bezos looking to create a company called Amazon in the early ’90s. He sees book sales on the rise, and the Borders ...
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