Abstract
Although researchers are generally comfortable talking about their technology and its features at length, they are often much less well-versed in the business and financial aspects of their undertaking. Entrepreneurs need to be in a position to answer a few key financial questions about their venture. What are we producing that has a value in the market? Will the market pay us enough to be profitable? How exactly are we transferring money from customers into our bank account? The business-model canvas answers the first question, but the other ones require a financial model made with spreadsheet software.
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Notes
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Steven G. Blank, The Four Steps to the Epiphany: Successful Strategies for Products That Win (K&S Ranch, 2007).
- 2.
Steven G. Blank and Bob Dorf, The Startup Owner’s Manual: The Step-By-Step Guide for Building a Great Company (K&S Ranch, 2012).
- 3.
Marc Andreessen, “Product/Market Fit,” Stanford University, June 25, 2007, www.stanford.edu/class/ee204/ProductMarketFit.html .
- 4.
Brant Cooper and Patrick Vlaskovits, The Entrepreneur’s Guide to Customer Development: Cheat Sheet to The Four Steps to the Epiphany (Newport Beach, CA: Cooper-Vlaskovits, 2010).
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Michael E. Porter, Competitive Strategy: Techniques for Analyzing Industries and Competitors (New York: Free Press, 1980).
- 6.
Clayton M. Christensen, The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail (Boston: Harvard Business School Press, 1997).
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© 2015 Manuel Stagars
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Stagars, M. (2015). The Financial Model. In: University Startups and Spin-Offs. Apress, Berkeley, CA. https://doi.org/10.1007/978-1-4842-0623-2_8
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DOI: https://doi.org/10.1007/978-1-4842-0623-2_8
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