At the beginning of this episode, I talk a bit about linear and non-linear mindsets. It is important for you to know which type of thinker you are!
Bonus story at the end - Why a Vivendi/Universal deal failed from the beginning.
The key concept in this episode - make sure your business choices match your actual business model.
A business model must include these elements.
1. A customer value proposition
2. Aprofit formula
3. Key resources
4. Key processs.
There are two major business structure models. One is a resource based view and the other is dynamic capabilities.
The vast majority of entrepreneurs will fall into a dynamic capabilities model. This is very important to understand.
So many businesses fail simply because they try to play the game outside of their available resources. That's why tapping into the dynamic power structure of what you can and can't do is so critical to future success and ongoing pivots.
Remember, don't confuse strengths and weaknesses as resources. Hubris will kill more businesses than lack of funding.
