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A New Approach to Designing Business Models
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A New Approach to Designing Business Models

Alex Osterwalder
Lift Events Sàrl, 2011
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Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

When attempting to launch a business, entrepreneurs often formulate business plans that look great on paper but that ultimately flop. According to Alex Osterwalder, author of Business Model Generation, many new enterprises fail because they don’t test their ideas or consider alternatives before launch. He adroitly suggests turning to automakers for inspiration. getAbstract believes Osterwalder’s insightful guidance offers a beacon of light to neophyte entrepreneurs feeling their way in the dark.

Take-Aways

  • The automaking process offers valuable lessons for entrepreneurs. Car manufacturers sketch, prototype and test various ideas before deciding on the best version and putting it into mass production.
  • Entrepreneurs, on the other hand, rarely entertain alternate business models before launching their enterprises. This tendency incurs great risks and costs.
  • However, start-ups can heighten their chances of success by exploring alternatives to each and every constituent of their business models.

About the Speaker

Alex Osterwalder co-founded Strategyzer, an app that assists in designing business models.

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