A business model
A business model is a starting point for identifying a product idea and drawing up a plan. The desired outcome of this plan is to identify the unique value proposition that our business intends to deliver to the users/customers. In order to arrive at this, we need to define who our users are, what problems we're trying to solve, what channels we can leverage, who our competition is, how we plan to make our revenues, and what costs we might incur.
For start-ups, or businesses in the early stages of development, Lean Canvas, or any other framework that can help to visualize the market, business ecosystem, unique value proposition, and target segments, is a great place to start. Even for a product manager joining a team midway through ...
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