10 Questions
What is typically included in developing a business model?
Description of customers, how customers use the product, how you distribute the product, and details about promoting the business
What is the first step recommended in establishing the right business model?
Identify your specific audience
What are start-up costs related to?
Expenses incurred during the process of creating a new business
What do operating costs refer to?
Expenses related to the operation of a business
What is the last step recommended in establishing the right business model?
Leave room for innovation
Match the following steps in establishing the right business model with their descriptions:
Identify your specific audience = Step 1 Establish business process = Step 2 Record key business resources = Step 3 Develop a strong value proposition = Step 4
Match the following types of costs with their descriptions:
Start-up costs = Expenses incurred during the process of creating a new business Research Expenses = Part of start-up costs Operating costs = Expenses related to the operation of a business Employee Expenses = Part of start-up costs
Match the following elements of developing a business model with their descriptions:
Description of your customers = Part of developing a business model Details about how you promote your business = Part of developing a business model Create a demand generation strategy = Step in establishing the right business model Leave room for innovation = Step in establishing the right business model
Match the following with their primary usage:
Borrowing Costs = Start-up costs SQL = Database queries CSS = Styling web pages Entrep = Subject or field of study
Match the following with their involvement in business model development:
How customers use your product = Part of developing a business model Determine key business partners = Step in establishing the right business model Technological Expenses = Part of start-up costs Advertising and Promotion = Part of start-up costs
Test your knowledge of developing a business model with this quiz! Explore important steps and components involved in creating a successful business model, including customer description, product usage, distribution, and promotion strategies. Evaluate your understanding of the seven recommended steps for establishing the right business model.
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