So frustrating to see that incubators want you to present a business model? Are you afraid that your idea will go wasted and someone else will make a startup out of it? What is holding you back from executing your “IDEA”?
Idea isn’t idea until it’s executed – Ajmal Paiman (DYS2017)
Must Cover these Four Things in Your Business Model:
-How much would it cost to deliver the required product/service?
-How much investment is required?
-How much time would it take to recoup the initial investment (payback)?
Incubators are scouting camps
Are they? Blaming incubators is just an excuse. If you don’t have business model, how will you even run a business. Just google what business model is, its no rocket science. Just two three straightforward things and its done. No incubator want a perfect model, all they need to know is your understanding of the problem you are solving. I have never seen a selection criteria that is purely based on business model. Considering you had great ideas which someone else executed well, have you ever tried next time to add someone in your team with good business and execution skills?
One of them is idea validation which is to be done by prototyping. That’s why people keep pivoting till you find the right answer. An Idea isn’t really “Execution Dependant” at all. It’s still an idea, though, with some cash in hand and experienced and sincere people to work with, the very idea can be worth billions one day. Man’s Flight was once, an idea, too.
In many respects the problem analysis is the most critical stage of project planning, as it then guides all subsequent analysis and decision-making on priorities.This business canvas is a great logical framework analysis tool.
If you can still ask ‘how?’ questions and not find the answer in the draft Logframe (with the accompanying draft workplan showing activities), then it is not complete. – Red Cross (2006: 23)
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