It’s time to hash out a business model. What’a business model? Glad you asked!
It’s a (generally) one-page chart that addresses key elements of your business: Key partners, Key activities, Key resources, value propositions, Customer relationships, Channels, Customer segments, Cost structure, Revenue streams.
Each element takes a considerable about of work to define, refine and establish but that comes later in the business development process.
Before diving head-first into a business plan or into all the many many MANY pages of info on starting a business, start out generally and work down to the details.
Here’s an example of the Nespresso business model.