Evaluating Business Models: A Simple Process with Big Results

Let's talk about a new way to figure out if a business idea is worth the money. This method brings together two important perspectives: the business model and the processes that make it happen. First, we use a tool called the Service-Dominant Business Model Radar. This tool helps us break down a business idea into something specific and understandable. Next, we turn that business model into a set of steps, or a business process. This process is like a roadmap that guides us through the ups and downs of making the idea a reality. Finally, we use a simple software tool called The Cost-Benefit Tracker to analyze the economic potential. This tool is made specifically to work with the Service-Dominant Business Model Radar. It's not as complicated as other tools out there, which makes it great for entrepreneurs who are just starting out. By following this process, entrepreneurs can make sure their business ideas are financially strong before they get too far into the project.