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Business plan - a document setting out a business's future objectives and strategies for achieving them.
Business Model Canvas - a business tool created by Alex Osterwalder used to visualise all the building blocks when you want to start a business, including customers, route to market, value proposition and finance.
Lean Canvas - an adapted version of the Business Model Canvas created by Ash Maurya that helps you deconstruct your idea into its key assumptions, aimed at Lean Startups.
Lean Startup - a methodology for developing businesses and products that aims to shorten product development cycles and rapidly discover if a proposed business model is viable
Prototype - the first version of something from which other forms are developed.
Market - the place where or audience to which products or services are sold.
Hypothesis - an assumption that your business model or strategy builds upon.
Market research - gathering information about consumers' needs and preferences.
Beneficiaries - people who get advantage from something.
Business model - a plan for the successful operation of a business, identifying sources of revenue, the intended customer base, products, and details of financing.
Refine - to make small changes to perfect something.
Evolve - to develop gradually.
Investment - putting money into something with the expectation of profit or return.
Investor - a person or organisation that puts money into something with the expectation of achieving a profit.
Traction - the extent to which an idea, product, etc. gains popularity or acceptance.
Funding - money provided, especially by an organisation or government, for a particular purpose.
Minimum Viable Product - a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development.
Interface - a device or programme enabling a user to communicate with a computer.
Functionality - the usefulness of something, or how well it does the job it's meant to do.
Compromise - making sacrifices for a broader goal or purpose.
Authenticity - being genuine.
Rapport - a friendly, harmonious relationship.
There are no definitions specified in this episode 🙂