Episode 27: Turning Ideas Into Breakthrough Business Models, Part 1

350x350What’s the process for turning a great idea into a real business? Host Tom Ryan explains the Business Model Canvas method in part one of this two-part podcast.

In this episode, Tom is joined by fellow podcaster Jason Piles to tackle one of the biggest questions faced by entrepreneurs: “How do I turn my product or service idea into a viable business?” This episode provides an introduction and overview of Lean Startup‘s Business Model Canvas method for launching a new business.

• Brian’s app business question (1:20)
• The “Ideation” concept (2:18)
• What makes an idea worth pursuing? (4:27)
• “Great ideas are like fine quality sapphires” (5:30)
• Cat sweaters, and the reality of failed business ideas (7:28)
• Business model stress test (8:35)
• Creating a breakthrough business model (9:52)
• Lean Startup’s Business Model Canvas method (10:01)
• Business Model Canvas elements (12:00)

  • Key Partners
  • Key Activities
  • Key Resources
  • Value Propositions
  • Customer Relationships
  • Channels
  • Customer Segments
  • Cost Structure
  • Revenue Streams

• Not just for startups (13:02)
• What’s coming next episode: More business model canvas concepts, raising capital, convertible notes (13:55)

Thanks for listening!

Next Episode: Turning Ideas Into Breakthrough Business Models, Part 2 – Diving into the Business Model Canvas.

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