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Tag Archives: how to build a startup business

The Business Model Canvas Explained

As you look to launch your business, you will likely find mentors, bankers, and other resources providers that will ask you for a traditional business plan. By utilizing the Business Model Canvas and customer discovery methods, you will have something far superior than just a business plan full of assumptions and guesses. You will have a tested ... Continue reading

Business Innovation – 2 Types

What type of business innovator are you? Are planning for disruptive innovation or incremental innovation? Incremental innovation defined An incremental or sustaining innovation is typically an improvement to an existing product. The business model  doesn’t change and the business runs pretty much the same except it enjoys the benefits the ... Continue reading

Smart Goals for Business Startups

Team clarity and focus is important for existing businesses and startups. If you feel your business is lacking direction, it’s time to assess, clarify and communicate the vision and future of your business. A few months ago, I felt our team was struggling. We had two new team members, and although there was lots of activity, we weren’t ve... Continue reading

Borrowing and Combining Innovation

Borrowing innovation is easier than inventing from scratch! Think you have to start your invention from scratch? Why not combine existing innovations? Here’s two examples of incredible innovations over 100 years apart: Henry Ford (1908) Henry Ford actually borrowed three existing innovations for his assembly line: i) Interchangeable part... Continue reading

The Workshop That Will Make Your Life Easier

In continuation of our commitment to serving you better, we at TBT have been getting out of the building and listening to what you have to say. And boy do you have lots to say. In particular, a number of you have been very vocal about having a business idea, but not knowing what to do next. There are a number of different ways you could deal wit... Continue reading

Vulnerability is a Strength in a Startup Business

I hope you consider vulnerability a strength. Being vulnerable saves you money and time in a startup – lots of it! Most startups start as an 'isolated belief' inside the founder’s head. Founders can incubate on their ideas inside for years. But if you want to eventually have a customer pay you for your valuable idea, you must expose it – an... Continue reading

Startup Business Plan vs Business Model Canvas

Supporters of the Business Model Canvas (BMC) seem to have a tendency to quickly throw the idea of a business plan under a bus. But I don’t think it’s correct to think of the BMC and a business plan as opponents. Filling out your business model canvas involves going through the different sections and developing your hypotheses, or best guess... Continue reading

The Two Biggest Mistakes in a Business Startup

There is now sufficient research, reports and understanding of the startup ecosystem, and it’s safe to conclude a startup business is very different from a successful, established business. But since a lot of the world has not caught on to the radical differences, startups that try and act like established businesses tend to make two big mista... Continue reading

Do You Have a Great Business Idea?

Do you have a great business idea? Is it a secret? Do you know for sure in your gut it will be a great success? Great ideas are often the beginning of a great business. The process of taking an idea and making money with it is called a 'commercialization strategy'. In the web space it can also be referred to as 'monetizing' your idea. Often,... Continue reading

7 Secrets of Entrepreneurial Success

Rick Spence is a Toronto-based business writer, consultant and speaker. Rick was kind enough to permit me to share his 7 secrets of success with you: 1)      Don’t try it alone – Look for a partner with complementary skills to yourself. Rick gave good examples in Microsoft, RIM and Apple of very successful partnerships. 2)      ... Continue reading