A Business Model for Entrepreneurship
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A Business Model for Entrepreneurship

Thierry Verstraete and Estele Jouison-Laffitte

This book takes an original approach to business models and entrepreneurship, resulting from a durable involvement with entrepreneurs and from experiments combining theory and practice.
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Chapter 1: Using the Business Model to Develop a Project

Thierry Verstraete and Estele Jouison-Laffitte

Extract

1. Using the business model to develop a project This chapter begins by summarizing the four phases of the process of development of a new organization (idea – opportunity – strategic vision – business plan) and during this section we will not take the BM into consideration. In the second section, we explain why the BM has a place in this process by turning to what specialists say about it. Anyone who has raised capital for a start-up knows that investors need to understand a world that may be foreign to them. The BM does just that: it explains the project in terms that investors will understand. At the origin of the concept, in particular, the sources of income needed to be explained. In the internet context, investors did not understand how firms could make money on the web. This first conception of the BM (‘how to make a lot of money’) has now been surpassed. The integration of the concept of the BM in the entrepreneurial process leads to consider it as a five-stage process (idea – opportunity – BM – strategic vision – business plan). The objective of this chapter is to look at the process of settling on an entrepreneurial project and to show at the same time why and how to insert the BM into the process. As sources, we use, for the first section, a previous work by Verstraete and Saporta (2006) and for the second section a previous work by Jouison (2008). This chapter also specifies the difference between a BM...

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