Recommended for all entrepreneurs and startups. The article addresses the basic thought process and includes some how-to — important launch direction in your role as entrepreneur
Excerpt: I’m involved in two startups. In both cases, we are going through the process of developing a model that evaluates all aspects of the business — our target customers, products and services, organization, infrastructure, channels, financial projections, and funding needs.
In particular, the process of building a solid financial model forces you to think through things like payroll costs, equipment purchases, research and development, sales channels, and even office space. I found myself adding new elements to every part of our business model as I focused on the financial aspects.
I was reminded this week of how important it is to view them all as a whole instead of as the individual parts. I will share the details on one of those startups in this article.
Read full article via Analyzing a Startup, and Pivoting | Practical eCommerce.