What are the most important assets required to make the business model work?
Do you need finance, physical objects, intellectual property or also human resources?All these resources are what you need to focus on to bring your value proposition into reality. 
Physical Resources --how will you acquire all your physical resources

  • Company Facilities
-- You will also need office space and a company location. It is important to know where and how you will acquire it.

  • Products/Services
--This is where you need to figure out where you will get a hold of your suppliers who will supply materials such as iron ore or warehouse space.

Financial Resources -- how will you get the money to get your business off the ground.

  • Friends, Family, Crowd-Fundraising
--Sometimes it does not require much money to start your business and through these people you can easily get money to start your business.

  • Venture Capital, Corporate Partners, Government Grants
--If your business requires millions of dollars to start then you can acquire money from investors or government grants from your country.

  • Lease-lines, Factoring, Vendor-financing
--Once you have made some revenue you can get loans from bank and financing from vendor who want to sell to you although you do not have the money.

Tuesday, 20 November 2012Start-up Partner Strategies

When it comes to start-up partnership, here are a few key strategies that will get you off on the right foot.
  • Recognize you are not a peer to a large partner
--To a large partner you cannot expect to be seen as an equal or on equal footing so get used to that.
  • Don't confuse partners for early extremist buyer VS. mainstream buyers
--Do not confuse you your partners as a representation that the mainstream customer is starting to catch on to you business value proposition.
  • Don't confuse big company partnering with start-up strategy
--You do not always need a large business partner when you are just starting up. Sometimes you just need a small business perspective to get your business off on a running start.
  • Find partners that give YOU a competitive edge
--Find partners that are willing to give your the advantage. These people are the people that actually have an interest in your business and want you to succeed.
  • When finding partners, treat it as dating, and see what is right for you
-- Be picky when you find partners. Also, you need to find someone who has a personality and a set of skills that you do not have and can fill you hole. 

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