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Having a clear business model is vital from "summary" of The Art of Startup Fundraising by Alejandro Cremades
The importance of having a clear business model cannot be overstated. It is the backbone of any successful startup, providing a roadmap for how the company will generate revenue and achieve profitability. Without a solid business model in place, a startup is essentially flying blind, with no clear direction or strategy for growth. A clear business model helps to answer crucial questions such as who the target customers are, what value proposition the company offers, and how it will reach customers and generate revenue. It provides a framework for decision-making, guiding the allocation of resources and investments in a way that maximizes the chances of success. In the a...
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