Do start-ups need a business model?
Today’s start-ups are fuelled by pure innovation, by their ability to see gaps in conventional and digital markets, and by their willingness to explore the boundaries of what is considered possible and impossible.
The management and marketing literature – academic and anecdotal – presents an abundance of classic, modern, or a mix-and-match of business models. Hence, the question start-ups often ask is this: what business model should we adopt or follow?
The most accurate and genuine answer to that question is quite simple: your own.
By their very nature, especially in the case of digital and sustainable start-ups whose business objectives are underpinned by profit and purpose, start-ups need to be disruptive, risk-ready, and very agile in their go-to-market approach.
Scalability is the most important indicator that needs to inform your business model as a start-up, especially as a sustainable start-up. Some of the questions you need to answer early on in your journey are also the ones that will dictate, very quickly, the path you should be taking as founder or co-founder.
Your revenue model is not your business model – your revenue model strictly relates to how money enters your bank account once your clients have paid for your product/service/hybrid. Your business model is more than how you make money: it is concerned with how you run your business.
And running a business, irrespective of your revenue model, needs to consider a multitude of variables starting with your stakeholder mix and matrix, and ending with your employees and suppliers.
Perhaps the most important thing you need to keep in mind as you are scaling your start-up is this: your offering needs to inform your business model.
For the reasons mentioned above – and not only - Circklo’s Business Configurator Academy is solely dedicated to sustainable start-ups. We configure these start-ups for both profit and purpose and, after 12 weeks of intensive business coaching, mentoring, dry-pitching, and networking with industry experts, angel investors, venture capitalists and other start-ups in the cohort, they see the enormous difference we make to their business: we turn it from a “nice to do” into a fully executable, revenue generating and scalable enterprise.
All our Configurator Academy graduates are ready to stand before any investor – ours or theirs – and be confident about their product/service, and about what it can deliver. Time to join us?