The Long Tail Business Model works by selling a wide variety of niche products, which individually sell very little, but which in total generate high sales volume.
Minimum Viable Product (MVP) is about a first version of the product, with minimum features, just to be presented to target audience and get feedback on it. That way, the company can verify the interest of the customers on the idea.
It’s very common to make confusion on what’s the difference between Business Model and Business Plan. But, in fact, they are similar only in name. Their functions and purposes are quite different and, actually, complementary.
Groupon Business Model has taken the world by storm almost over 10 years ago with its high-discount coupons. After many ups and downs, how is it holding up? Let’s take an in-depth look.
The Lean Canvas is a business modeling tool created to help deconstruct a startup idea into its key and most risky assumptions. Deeply influenced by the lean startup methodology, the Lean Canvas servers as a tactical plan to guide entrepreneurs navigate their way from ideation to building a successful startup.