How to visualize a business model and which tool to use

Business model is what answers the question about how your business works and how you make money. Explaining this can be difficult if you are not sure where to start. In one of my recent articles I show how to answer the question “What’s your business model?“. The article can help anyone to give an answer that makes people listen and ask more questions. But what if your counter partner wants to know what your business model looks like? Or… Read more

How to convince your customers, followers and collaborators

What is the number one reason for why entrepreneurs fail?[drumroll 🥁]: no paying customers. In other words, nobody buys their product. That’s pretty simple. In general, why does someone not buy a product? Logically, either they can’t afford it or they don’t want to spend their money on it regardless of how much money they have. And what if they can afford it but they still don’t buy it? Logically, either they don’t need it or they prefer to buy… Read more

Why entrepreneurs should offer only a few options at most

We tend to think that more is better, right? If we were entrepreneurs, we would typically assume that the more options we offer, the more customers we can attract. Or that the more options we offer, the more satisfied our customers are, because they will get the product that meets their exact needs. Or that the more options we offer, the more we can gain market share from our competitors. Are these assumptions accurate? For a very few large companies,… Read more