Witness the decline of shopping malls, deliveries by drones, cell phone navigation, telemedicine, and mass online education. Fifteen years later, our culture is experiencing creative change. The real story is what is happening now as the process leaked-out of business schools to find much larger applications. They used the new platform of the world wide web to market, coordinate, or innovate a new way of doing something needed. Some well-known businesses resulting from this "lean" validation process (lean is a term coined by Toyota Motors to eliminate waste) are AirBnB, Uber, Dropbox, Zappos, Amazon, and Facebook, all household names. Validation involves hundreds of customer inputs as the entrepreneur completes a list of activities to fill in the model components - customer relationships, distributions channels, key partners, activities, resources, and revenue and cost sources. A team could hold-up spending and hiring until a target market showed there was a demand for the proposed product or service. The old traditional plan of fifty years became obsolete, and no longer were guesses used to make assumptions but rather validated facts confirmed or did not confirm the viability of an idea. Once understood, tested, and successful it took business schools by storm. Core to its design is the product-market fit, or the relationship of a value proposition to its customer segment, each dependent on the other.
RED STORM DEFENSE SHOP HACK FULL
This "BMC" canvas has nine components, and, when completed, constitutes a full model that can be scaled and replicated. He chose a Swiss consultant's one-page tool, the business model canvas.
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