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HI

Harvard Innovation Labs Cast

02/02/14

@ Harvard Innovation Labs

The real cost of building a company lies in reaching customers, which is why understanding and optimizing the business model is crucial.

Video

HI

Harvard i-lab | Startup Secrets: Business Model

@ Harvard Innovation Labs

Harvard i-lab | Startup Secrets: Business Model

02/02/14

Related Takeaways

MS

Michael Skok

03/25/23

@ Harvard Innovation Labs

The essence of a successful business model is understanding how to create and deliver value sustainably, and if you don't understand your customer's needs, your business can face significant challenges and even risk failure.

HI

Harvard Innovation Labs Cast

02/02/14

@ Harvard Innovation Labs

Understanding your business model involves figuring out how to create value, deliver it, and harness it effectively, which is crucial for both profit and sustainability.

HI

Harvard Innovation Labs Cast

02/02/14

@ Harvard Innovation Labs

Analyzing the business model is essential for understanding how to achieve profitability and sustainability in a startup.

MS

Michael Skok

03/25/23

@ Harvard Innovation Labs

A successful business model not only benefits the company but also ensures that customers achieve their desired outcomes.

HI

Harvard Innovation Labs Cast

02/02/14

@ Harvard Innovation Labs

To create a valuable business model, focus on reducing customer acquisition costs while enhancing customer lifetime value through retention and upselling strategies.

HI

Harvard Innovation Labs Cast

02/02/14

@ Harvard Innovation Labs

Getting your business model right can significantly increase your company's valuation, potentially leading to 5 to 10 times higher valuations compared to those with ineffective models.

HI

Harvard Innovation Labs Cast

02/02/14

@ Harvard Innovation Labs

The business model is a critical component of your startup's success, and it should be considered alongside product innovation and market strategy.

MS

Michael Skok

03/25/23

@ Harvard Innovation Labs

Understanding the customer journey is vital for creating a sustainable business model that meets their needs over time.

HI

Harvard Innovation Labs Cast

06/12/13

@ Harvard Innovation Labs

To build a successful business model, design your product to reduce costs and friction in the go-to-market process, ensuring it aligns with market needs.