This summary can be used in combination with the book during exams. The summary is made to include all the most important things said in the book accompanied by important things taught by the lecturer.
Businesses can sell experiences or jobs-to-be-done or even emotional states. Not only services or
product. (Swapfiets sells an emotional state: peace of mind)
Businesses need to adapt to new developments in order to stay relevant and successful (Netflix and
blockbuster)
Customers are the reason businesses exist and start the job-to-be-done to be exact
A business model provides an holistic picture of how a company creates and captures value by
defining the who, what ad the why of business
create
value
deliver
capture
A business model is a framework that is often reviewed and changes. It can help get off to the right
start and make sure that early products and marketing decisions are tied back to the strategy.
Value is created through an irreversible process which gives a resources ‘order’ greater usefulness to
other humans
The purpose of a business is to create value (through work), sell ir or trade it customers, and capture
some of that value as profit.
Value can be created in two ways:
1. By producing an offering (a good or service) that is worth more to customers than its costs to
produce
2. By preventing the production of an offering that is worth less to the market than its
production cost
Expending more to produce something than its market price destroys value
Customer value: benefits/costs (in the perception of the customer.
, The process of launching, developing and running a business venture along its financial risks is called
entrepreneurship.
Types of entrepreneurships:
1. Small business
- Feed your family
- Lack skill to track inventors
2. Scalable startup entrepreneurship
- impact on bigger scale
3. large company entrepreneurship
- become large through sustaining innovation, offering new products that are variants
around their core products
4. social entrepreneurship
- solves social needs and problems with their product/service
- they can be non-profit, profit or hybrid
Entrepreneurial risks:
Personal risk Financial goal
Small business High Feed the family
Scalable startup high Get rich/implement vision
Large company low Feed the family/get promoted
Social Moderate Save the world
Intrapreneurs: people who want to have freedom but want to have the security of a salary
- in house entrepreneurs
- do not have the risks
socialpreneurs: recognizing social problems and achieving social change
- emplys entrepreneurial principles, processes and operations
solopreneurs: one-person companies
- location independent using technology to perform their job
startups are a temporary company in search of a business model that is replicable, sustainable and
scalable
Type of startups:
Startup: challenge: searching for a repeatable and scalable business model
Scaleup: challenge: exponential growth and market development via strategic collaborations with
established corporates
Scaler: challenge: sustain market leadership and growth
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