Collaboration
Sustainable Revenue
To finance your solution, there are various revenue strategies available, but it's crucial to choose the appropriate one. While creating your Business Model Canvas and Funding Strategy, you must have considered revenue. However, it's essential to re-evaluate your approach with your design team and key partners to ensure it's still relevant. This is the perfect opportunity to address critical questions that will impact how you present your idea to your target audience.
Workshop steps
Gather your design team along with other essential stakeholders and collaborators. Ideally, these individuals should have contributed to your Funding Strategy and possess a solid understanding of your project's critical components.
Create a straightforward spreadsheet displaying all the expenses associated with the solution, including staff, marketing, and production costs.
When depending on grants or donations, carefully consider your fundraising strategies and the dependability of your funding sources. Identify the types of relationships you need to establish to guarantee your venture's success.
To achieve your revenue targets, determine the quantity of products you need to sell. Implement strategies to retain customers and ensure repeat purchases. Set an appropriate price for your product. Consider introducing new products periodically to maintain interest and growth.
Lastly, while engaging in these conversations, consider how to Investigate the Scalability of your solution. In the next five years, do you envision operating in multiple locations? Will you offer a variety of products? Does this initial proposal belong to a group of potential goods or services? How can you expand your long-term revenue strategies in tandem with your solution?
Need help with this workshop?
