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<p>Which is more important for startup?</p> <p> </p> <p>1- Business Model?</p> <p>2- Feasibility Study?</p> <p>3- Business Plan?</p>
Business plan. Everything else should be on it, otherwise in my opinion is not a good BP.
Have a few numbers anchored to keep you afloat for the first6 months and then some. I have built successful companies with no full-blown business plan, but a quick eye check in Input, Output and TurnArounds (cashflow). Keep it simple, at the end of the day, there are only6 things money can do,
a) come in
b) go out
c) be on the way in
d) on the way out
e) growing
f) diminishing
Then build a huge list of ideas around (a) and speed up (c). And remember (a/c) can come directly or indirectly through partnerships but with (c) timing and value must exceed with (b) and (d). Done.
i believe the business model and plan are the most important since the startup business is new business line or segment it can be tested to know how much this segment is potential
Hi Hany,
Good evening. In my opinion, Business model is essential for startup but without feasibility study and business plan, it is worthless. Since, Business plan help you to build strategy whereas business model help to build tactics and feasibility study is the backbone for any model, plan. Even in our day to day life or work we do plan also we do feasibility study of their success.
Business Model gives structure and clarity to the thoughts. It helps to work on the business model canvas which has been tested over time to be effective. Most people feel lost on where to begin and what to do when it comes to moving from a business idea to action.
A business model can help you understand the gaps in the understanding and help build a feasible, sustainable business quickly.
