By Fatima Calderon
Your startup business model is wrong –and that’s perfectly
fine. In fact, it should be wrong, initially. Even famous and powerful businesses
had to change course before they could reach the success they enjoy today.
Twitter started as Odeo, a podcast subscription network. They
changed along with their name to
today being one of the most popular and
influential micro-blogging platforms. Starbucks, which today virtually permeates
every street corner, started not a fresh brewing coffee house, but selling
espresso makers and coffee beans. Research any popular and mighty brand and see
how different or modified they have become from their initial ideas (Facebook,
Zappos, Instagram, etc, etc, etc.).
Your initial business model will be based on many
assumptions about your business and your customers. But, as
you get to talk and listen to people, as a leader, you have to step back
and be objective (don’t let emotions cloud your judgement) and recognize what
needs tweaking or completely changing in your business model. It could be as
simple as re-pricing your product, or as complicated as changing your target
customer or changing a fundamental feature to better attract that target.
Recognize that change is needed and act quickly. The idea is
not to change visions completely, but to change directions while staying
grounded (Twitter is still a social network as originally envisioned and
Starbucks is still selling espresso machines and coffee beans).
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