Part 2/8:

The first step in any business model is value creation. This involves identifying and addressing the unmet needs of a potential market. Kaufman emphasizes the importance of understanding whether a problem is significant enough for customers to pay for a solution.

To determine market viability, aspiring entrepreneurs can engage in direct conversations with potential customers or conduct surveys to grasp any existing demand for their idea.

Marketing: The Drive to Acquire

Once value has been created, the next step is marketing, which connects the offered value with those who can benefit from it. Kaufman explains that humans are driven by multiple underlying needs, including:

• The drive to acquire valuable items,

• The drive to bond with others,