Before we can find that product market fit, we need to first understand the business models that serve as delivery mechanisms for taking a particular value to a particular audience. Every industry, audience, region, culture, age… will have a different preference for how they meet their needs with the value delivered by a particular market. As a self-funded entrepreneur you should not make the mistake of thinking you can be the one that changes them, but by being able to identify business models, you can then research those audiences and competitors in your potential markets and understand them, not just as meeting a need, but as being part of a bigger picture for how a particular audience engages with a particular need.
Read MoreWe believe, with some tweaks, investor principles can be applied to the average person’s side or small business. As a self-funded entrepreneur you may be talking much smaller dollars than a big investor, but we would argue the money you do set aside, and more so the time you commit, is far more precious to you than capital is to the venture investors doing rigorous business opportunity analysis.
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