Business ModelsFounder Ins+tute Jan/2017 An5 Akonniemi

What is a business modelThe idea of a business model is to describe

how you are going to make profit.

Not revenue, Not cashflow, Not users, Not churn

Profit.

Business models can be complex. Simple is be3er!

A lot of tools to help youFor example business model canvas (and similar) is

a great tool for communica8on and discovery

(links on the Founder Ins1tute site)

Customer firstThe framework you use to find your business model or even what

the business model is doesn't ma+er, if it does not start from an actual customer need.

How to find out what the customer needs?Be close to your customer.

So close you can smell, whether they showered that day or not.

You need to figure out the needDon't ask.

Surveys are nice, but rarely tell you the biggest problem.Don't believe what people say, believe what they do.

An easy way to winCreate so much value (and communicate it) that the customer would actually lose money, if they wouldn't use your product/

service.

It should be unethical not to sell.

Sales solve everything

The earlier you get paid, the be2erRisk goes down You can invest

You get commi3ed customers

Ads are not a business model

Test and measure constantly

WODconnect's story• Background

• Thought the PRO account would rock

• Then measured, looked like gym business is going to rock

• A<er 1.5 years, realized that we were wrong - why?

PricingTest and try it out

Start high (easier to go lower)

Things to consider per sale• Loca&on

• Age/Sex/Etc

• Relevant data from your product (completed these tasks .. etc)

• Price

When to start tes+ng your business model?

Yesterday.

Ques%ons?

an#@kiskolabs.com @an#akonniemi