When you’re looking at starting a business, the one thing that you need to be very careful of is who has control of whether you succeed or fail. One of the most common (and most fatal) flaws in a startup business model is when they don’t control the value that they provide – and as such aren’t in control of their futures. This is surprisingly common!
TEST: Any business that cannot provide it’s primary value to only one customer runs this risk.
You’re guilty of this where you are dependent on someone else providing information, a service, a deal, opportunity or product. Any time that you cannot control the value that you are selling to your customer. This (seemingly obviously) poses a difficulty when trying to find a way to make money. Continue reading