So you have a business idea that looks viable. By now you should have some knowledge of how your industry and market operates, so it is time to start developing your business model - how you intend to bring this idea to life and make it happen. Entrepreneurs may not like formal planning in the big company sense (see Academic insight 4.1) but a simple framework for developing a start-up is extremely useful. The framework needs to be minimalist and easy to use, illuminating the issues and helping you to develop broad, flexible strategies that can change as market circumstances change. It needs to provide the link between the experience of running the business - the emerging opportunities and threats - and strategy. It should facilitate learning by doing and also the ability to translate this into action. For the less practised, such a framework helps organize and develop what would otherwise be an unstructured and disjointed experience.
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