Business Model

The term 'Business Model' is all around in recent years: you hear about it in the news, and you read about them in newspapers constantly. It is also a common question asked to everybody that starts a new project or organization: "What is your business model?" For many creative people, whether they design new fashion articles, create graphic designs, write new pop songs or work on visual art works, the term business model seems abstract and economic. "I don't have a business model" is therefore the often heard response. However, this is not true at all. Every individual working on...

The creation of a company is a complex and dynamic process consisting of numerous (preparatory) activities and decisions. This entrepreneurial process of business creation is often said to begin with the first consideration to possibly become an entrepreneur and ends with the first activities of the newly formed company (for example, the launch of a product / service). Traditionally, this process has been divided into two main parts: discovery and exploitation. In the discovery phase the concept of the newly created organization is developed: identification, refinement and development of the business idea as well as the personal process regarding the...

Often times when you research business models you come across the Business Model Canvas. This is a useful business tool created to visualize all the building blocks of a business, including customers, route to market, value proposition and finance. The Business Model Canvas was created by Alexander Osterwalder, of Strategyzer, and is aimed to lead to insights about the customers and public you serve, what value propositions are offered through what channels, and how your organization makes money. You can also use the business model canvas to understand your own business model better, or compare it to others in your sector...