Business Models & BMC
This tool helps entrepreneurs map out key components of their business, including customers, value, and revenue.
What is the Business Model Canvas?
This short, persuasive speech explains your business idea in under a minute.
What is a fast pitch?
Entrepreneurs often have this trait, which helps them bounce back after failure.
What is resilience?
This comic book character’s 2008 movie marked Marvel’s launch of its self-funded film studio and blue ocean strategy.
What is Iron Man?
This term describes markets with fierce competition and shrinking profits.
What is a red ocean?
This part of the BMC describes the group of people your business aims to serve.
What are Customer Segments?
This opening element grabs your audience’s attention and frames the problem you’re solving.
What is a hook or problem statement?
Entrepreneurs must be comfortable with uncertainty, which is referred to as this.
What is risk tolerance?
Marvel used this strategic method, opposite of value extraction, to create new demand in an uncontested market space.
What is value innovation?
Blue Ocean Strategy aims to do this instead of competing in existing markets.
What is create new market space?
These two sections of the BMC focus on how a business generates money and delivers customer value.
What are Revenue Streams and Value Proposition?
These real-world customer experiences add credibility to your pitch.
What are testimonials or case examples?
This approach means starting with available resources and focusing on what can be controlled.
What is effectuation?
To cut Hollywood costs, Marvel avoided big-name stars and instead focused on this key element of their IP.
What are the characters?
These are the four actions in the Blue Ocean Strategy framework: Eliminate, Reduce, Raise, and this.
What is Create?
This type of strategic shift occurs when a startup changes its business model based on customer feedback or market shifts.
What is a pivot?
This pitch formula stands for Problem, Agitate, and Solution.
What is the PAS formula?
This mindset trait drives entrepreneurs to keep asking questions and exploring new ideas.
What is curiosity or continuous learning?
To maintain creative control and ensure character consistency, Marvel formed this internal team made up of comic editors and executives.
What is the Creative Committee?
Marvel created a blue ocean by targeting this group, people who weren’t traditional comic readers.
Who are noncustomers?
This mindset trait drives entrepreneurs to keep asking questions and exploring new ideas.
What is curiosity or continuous learning?
These were the major early challenges Marvel and Cirque faced before finding success.
What are financial instability and market saturation?
This type of external change can present both challenges and new markets for entrepreneurs.
What is regulation or a new law?
This financing method allowed Marvel to make movies with no risk to the core business by using characters as collateral.
What is non-recourse debt or character-backed financing?
This tool helps visualize how a company differentiates itself across key competitive factors.
What is the Strategy Canvas?