developing a business model
required to design a creative business model that relies on having identified value opportunities or innovation gaps. To do so, you will have to justify the problem/solution, or the opportunity being exploited. Here, this can be for both a new and existing proposition. You will be expected to provide a clear implementation plan demonstrating tangible outputs at every stage possible. To do so, you are encouraged to be as factual as possible, rely on theory and frameworks (these should be to support the central tenet of the proposition)
Some pointers for consideration include Problem /Solution Fit; Product/Market Fit, Value Propositions, an operational plan, Financial considerations [at least three year sales forecast and an income statement], Marketing plan, Growth/Scaling Plan, Plan to attract investors [*optional depending on the contextual underpinning] and an exit strategy [for particular stakeholders]
To achieve this- it is vital that you provide a clear context- by addressing some of the following questions- Is this viable opportunity; is it an existing business, are you at the stage of seeking funding, are you at the initial stage of starting the business- Here the context will allow you to develop a business model that is in line with context.
