Rapid Business Model Testing

A successful startup does not flower solely from a great product or idea, says Ann Miura-Ko, partner at FLOODGATE Fund. She argues that success stems from the ability to grow a business around that great idea. The venture ecosystem, a flush customer base, accessible distribution channels and manufacturing – all of these factors must converge into a business model that is both viable and scalable. Fortunately, the Internet allows companies to rapidly test business models, for example, through the use of social media leveraged with demand creation and flexible pricing structures.