Chapter 5

Stage 3: Craft Business to Know Viability

Most start-ups fail not because they didn’t find the right problem to solve for the user demographic or that their solution lacked technological prowess but because they could not figure out a sustainable business model for their idea. Similarly, most hugely successful start-ups didn’t just understand the problem of their user demographic and build solution to solve the problem. They crafted a business model that made them hugely successful. For example, Google, while helping users find more relevant websites using their superior algorithm, figured out an advertising business model that until this day generates 9 out of every 10 dollars of its revenue.

It is critical to understand the business ...

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