Finding Your Business Model - Mikaal Abdulla
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The document outlines the author's journey in establishing a startup focused on revolutionizing consumer financial advisory in Asia through a fully online platform. It discusses the dynamic nature of business models and offers advice for entrepreneurs, emphasizing the importance of iteration, user experience, and building a strong team. Key lessons include embracing risks, being flexible, and enjoying the entrepreneurial journey.
Finding Your Business Model - Mikaal Abdulla
- 1. Finding Your Business Model
- 2. My journey to entrepreneurship...
- 3. The idea behind my startup... The Problem A Solution? Investing ideas are channeled through advisors at a cost (time and money). All channels that exist to share information directly are declarative and thus unreliable. Challenge Asia s huge consumer financial advisory industry by bringing the conversation and transactions 100% online Through a personalized Trading Portal, customers have access to global trading, research and a private investor community on a single dashboard. A totally transparent and real-time peer to peer exchange of ideas & trading on one screen.
- 5. What is a business model?
- 6. A classic definition.... The plan implemented by a company to generate revenue and make a profit from operations. The model includes the components and functions of the business, as well as the revenues it generates and the expenses it incurs.
- 10. 1. Your idea (solve a problem) 2. Deploy a minimal viable product and fail fast 3. Iterate, iterate and iterate until you hit product / market fit 4. Can you profitably monetize and scale your solution? 5. Congratulations! You have a viable business model 6. …at least until the next big thing challenges you Finding your business model
- 11. Business models are dynamic. Not static. The Lesson
- 12. 1. Be brave. Startups are risky. Face it head on. 2. Acknowledge your weaknesses. Build a great team around you. 3. Be flexible. Be humble. Your idea and business plan is theory. 4. Put the user experience first (design is just as important as engineering. 5. Enjoy the journey. My advise for entrepreneurs
- 13. Don t ever let anyone tell you something! is too competitive. Once you subtract! the people who don t work very hard, or the! people who aren t as good as you, your ! competition shrinks dramatically !