It is a better business model.

Fill out the business model canvass.

Competition kind of exists outside the business model canvas.

You're all familiar with the business model canvas.

So let's take a look at our business model canvas.

Understand they're an integral part of your business model and business model canvas.

Phase 1 is you state your hypotheses and you draw the business model canvas.

And we mean, in a Lean Startup model, experiment in the scientific sense.

Now, what we actually do with the Business Model Canvas is in week 1.

Now we finally come to the last part of the business model canvas.

In fact, they are probably the commercial model of the future.

The thing to remember that the goal is not to draw on the canvas.

And on the left hand side, kind of the backstage of the business model canvas, their activities we're going to be rental tracking, shipping, dry cleaning, marketing and customer service.

By the way, an iteration is a minor change to one or more of the business model components.

So we covered a lot of material in the customer segment part of the business model canvas.

Are there resources from the resoures part of the business model canvas?

It's kind of ironic we're getting to the last part of the business model canvas that could actually put us out of business.

By now, you're intimately familiar with the business model canvass.

I can't emphasize enough that the business model canvas is just a start.

Let's take a look at what their business model canvas started with and evolved to.

Think of the canvas now floating in a world where other people's business model canvases are floating as well.

The Business Model Canvas is a scorecard it's not the class.

That is, you'll understand business model design, you'll understand all the components of the business model canvas and understand the startup is not just a bunch of teams who have free food and you bring your dogs to work and work incredibly hard.

So you're all familiar with the business model canvass and hopefully by now you've actually taken a shot and tried to fill out the canvas for your own idea and your own startup.

And this is a key idea, value proposition and customer segments are the first two things you tend to work on with the business model canvas.

Looking at the Business Model Canvas, fill in the box where your product would go and then fill in the box where your market would go.

The word hypotheses is really a fancy word for guesses, and if you really think about it when you fill out the business model canvas all you have is a series of guesses.

If you're doing more than just watching these lectures, one of the things you're going to be staring at a lot is the Business Model Canvas.

So in the rest of these lectures, we're going to take you through each one of the business model components and hoping you will get out of the building just like this team to test each one of your hypothesis

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This is contrary to what would be predicted by the so called gravity model of trade, which is based on both the size of the trading partner and its distance.

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What you've already put together is a business model canvas with your hypothesis that says, Look, we're really passionate about this product or service, and we think there's a set of customers out there, and we've put together a revenue model, our first hypotheses and saying we're going to make a lot of money, and that's great, but there's really kind of a method to this madness, and there's not only one way to do this, but this is the way we kind of think of it.

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