Grow your startup product using State Machine

What is a State Machine? State Machine is a mathematical process of describing algorithms. In other words, it represents a graph that contains all possible states of the given observation. For example, if we represent a character state of the following string: the state machine would look like this: Circles (x and y) would represent […]

Business model as a way to endure contact with a customer – Part II

Key resources Key resources could be in different forms, depending on the organization. They serve to support our company values, distributing channels, customer relations, customer segments, etc. The most common forms of key resources are physical assets, intellectual property, human resources and financial resources. Physical assets represent valuable physical machinery that offers a great advantage […]

Business model as a way to endure contact with a customer – Part I

Business model Previously, we have shown the difference between business model and business plan, as well as how and why first is better for startups, and the second one for larger companies.  Further focus in this series will be on the business model. The reason being is that this series is aimed to help individuals […]

No business plan can withstand the first contact with a customer

Every beginning is hard. It’s like climbing a mountain. Did you ever consider climbing Mount Everest? It is the tallest mountain in the world, and one of the hardest to conquer. To succeed in climbing to the top of the world, you need to have a lot of preparation, both physically and mentally. This preparation […]

Business model

The first question that every entrepreneur asks before transforming his idea into a tangible business or company is: “How can I make a profit out of this?”. This question sets a chain reaction of many other subsequent questions that are mostly not easy to answer correctly. For example: Who are my customers? What are my […]