ARIS’ new cohort of start-ups attended their first session on business and revenue models on December 12, 2022. The series of training and mentoring sessions will assist the teams to broaden their knowledge of key business aspects, further develop their business idea and redefine key activities of their businesses through revaluation based on new knowledge.
The goal of the first workshop was to develop a theoretical and practical understanding of what is a business model with focus on the process of designing and defining the revenue model and streams. The start-up teams were introduced to the concept of business model and the different blocks involved through the Business Model Canvas template, focusing on the different types of revenue and business models with the use of case studies. Moreover, ARIS supported the teams in the process of defining their business strategy through the interactive workshop and with planned bilateral meetings with our team as well as mentors and financial advisors.
What is a Business Model and why is it important?
A business model performs an important role in the development journey of a successful start-up, as it provides an overview of the company’s business strategy, its target segments, the value delivered to customers, its operations, and more importantly it describes how the business will generate revenue. Using the Business Model Canvas a start-up can visualize and address key areas of consideration, assess possible planning gaps and exposure to risk, and be able to provide investors the answers they are seeking.