Two business ideas that stuck with me in recent times were from Clayton Christensen and Steve Black.
Clayton talks about the micro side of things. He sees a product as something that is supposed to accomplish a job for the customer. He uses the example of the milkshake and through research found that there are surprisingly high numbers of milkshakes purchased during breakfast hours. He concluded that it was people who commute to work that often purchase milkshakes because it gives them something to do during the long drive. Unlike other breakfast foods such as bagels or sodas because bagels are messy and sodas don’t give you mundane tasks to do like a milkshake would.
Steve Blank, on the other hand, talks more on the macro side of things. He says that a startups responsibility is to find a business model. In other words, it’s how an organization creates, delivers, and captures value for their customers. Business Model goes along with Customer Development as he outlines this in his manifesto.
All of this is integral to a startups health. No revenue and profit and you’re doomed to hit the deadpool!