06 Entrepreneurs or startup employees need to “keep it fluid” Why?
In a simple words, we don’t know until we sell whether it will make profit or not. Society change, culture change, people change, and our customer change. Hence we need to be flexible and one business model should be open to be changed.
One of the key findings of ONSET Ventures is that a common source of failure occurred when one committed to a business model too early. Business model is not a goal but a tool to pursue what they want. It cannot be a purpose itself. People must have spent a great deal of energy and time to develop their business model which makes people want to stick with their business model strongly believing that will work. However how much they’ve spent or how strong they believe doesn’t influence the changing people and culture out there.
Especially in the startup’s perspective we don’t know who will purchase our goods or services. In the process of developing new business employees create virtual customers in other words target customer. It’s always an hypothesis until the sales record prove it. It is essential to change at least once before it is ready for market.