ü You can arrive at better business model (‘Plan B’) so that the chances of your success improve.
ü “You build a better mouse trap- Mouse will come”. If you believe in this statement you should read this book why you may have to change your business model to plan B to be successful
ü The book questions the assumption of Startup entrepreneurs that their original business model called “Plan A” will succeed in the market place.
ü Authors provide an analytical frame work to stress test the business model (‘Plan A’). and arrive at a better business model called Plan B
The book is based on a study of more than 20 companie
Do you want to be a rock star in the entrepreneurial world like Steve Jobs, Mark Zuckerberg? Read Further
All start up entrepreneurs, are passionate about their idea. They believe they are offering a new solution to the problems of their customers and expect them to jump in and buy their product or service. Their ideas are yet to be tested in the market. They dream big and would like their business to be next Apple, Google, Face book etc
They just plunge into the market place and spend all energies to acquire customers. However reality strikes them when their well laid out plans do not go exactly as per their script.
The original idea called Plan A rarely succeeds and may have to undergo many changes based on the trial and error in the battlefield of the market. Invariably the successful businesses are those that have not stuck to their original idea but made many changes.
The book is based on the authors John and Randy’s research on more than 20 companies. These companies have moved from Plan A to B to C and are successful. Based on their study they have developed an analytical frame work.
The frame work is a rigorous process for stress testing Plan A and determining how to alter it so your business makes money, solves customers' needs, and lasts long.
Figuring out what customers will buy is a process-one that lies at the heart of the business model-not a guess. You can learn from successes and failures of existing businesses and avoid wasting your time and money in the pursuit of your dream.
The data collected from the four process elements is to be applied to each of the five business model elements listed below of your plan A.
The book provides a template (page no.10) under the caption business model grid. Filling up the template will facilitate in arriving at the alternate business model which is called” Plan B”
At the end of each chapter also the authors have given template for each business element and also have explained with examples how to fill up the templates.
How to apply this model has been made easy through one of the simplest business model of selling lemonade.
The frame work is applicable to start up businesses, corporate planning to launch a new business and also for not for profit business as well.
Anyone who is thinking about starting a new business or who is facing growth pangs should read this book. The startup entrepreneurs always start with limited cash. The application of the frame work pre tests their original Plan A and makes changes to arrive at a new business model.
Implementation of Plan B- C-D improves the chances of your succeeding in the business and makes you realize your cherished dream..