14 Questions
In the context of the Business Model Canvas, what is considered the key element?
Value Proposition
Which canvas is specifically mentioned as a constant work-in-progress in the text?
Business Model Canvas
What is essential when filling in the Business Model Canvas according to the text?
Following the order of fields as indicated in the video
Which field are you encouraged to test and feel most uncomfortable about when creating the Business Model Canvas?
Value Proposition
What is one of the main purposes of using Canvas in business modeling?
Visualizing business models
What are the two initial elements to start with in a business model?
Customer segment and value proposition
Why is it suggested to start with a customer segment when defining a value proposition?
Because a value proposition always depends on a customer
What is highlighted as a characteristic of a business model according to the text?
Can be changed as new information arrives
Why is it recommended to calculate costs at smaller units?
To estimate costs reliably and quickly
What is the purpose of following a 'conversion funnel' logic in start-ups?
To measure if the company is on track
In the context of conversion funnels, what does 'retention' refer to?
Keeping customers buying multiple times
What is a common challenge associated with having customers in a 'conversion funnel'?
Keeping customers in the funnel
Why is focusing on 'awareness - interest - desire - action' important for start-ups?
To achieve high conversion rates
What type of metrics does the text mention that many start-ups rarely use for measurement?
'Advanced controlling'
Learn about how Canvas can be used for visualization, brainstorming, structuring, and communication in business modeling. Understand the basic assumption that business models can be described in 9 major parts.
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