ALEXANDER OSTERWALDER

Founders go wrong when they start to believe their business plan will materialize as written. I advise entrepreneurs to burn their business plan - it's simply too dangerous to the health of your business.

Actions speak louder than words. There is a big difference between what people say and what they do. People might tell you they are excited about your new product, but when they are in a buying situation their behaviour might be totally different.

You need to be naive enough to do things differently. No big publishing house would have allowed us to co-create a fully designed, four color business book in landscape format - because it was contrary to the publishing industry logic. However, we thought of Business Model Generation as a product, not just a book - similar to Apple products.

Once you understand business models you can then start prototyping business models just like you prototype products.

The same products, services or technologies can fail or succeed depending on the business model you choose. Exploring the possibilities is critical to finding a successful business model. Settling on first ideas risks the possibility of missing potential that can only be discovered by prototyping and testing different alternatives.

Co-creation is much more work than writing somewhere in a hidden corner and then publishing your content. However, the benefits outweigh the costs.

Great entrepreneurs are often great listeners and they can spot patterns and pick up on small details in customer stories.

Founders go wrong when they start to believe their business plan will materialize as written. I advise entrepreneurs to burn their business plan - it's simply too dangerous to the health of your business.

Great entrepreneurs are often great listeners and they can spot patterns and pick up on small details in customer stories.

Co-creation is much more work than writing somewhere in a hidden corner and then publishing your content. However, the benefits outweigh the costs.

The same products, services or technologies can fail or succeed depending on the business model you choose. Exploring the possibilities is critical to finding a successful business model. Settling on first ideas risks the possibility of missing potential that can only be discovered by prototyping and testing different alternatives.

You need to be naive enough to do things differently. No big publishing house would have allowed us to co-create a fully designed, four color business book in landscape format - because it was contrary to the publishing industry logic. However, we thought of Business Model Generation as a product, not just a book - similar to Apple products.

Actions speak louder than words. There is a big difference between what people say and what they do. People might tell you they are excited about your new product, but when they are in a buying situation their behaviour might be totally different.

Once you understand business models you can then start prototyping business models just like you prototype products.