How are you planning on using your idea:  selling a product, licensing an idea or giving it away for free?

Whichever you choose, you’ll need to be able to describe the value of your idea to customers. You can do so by designing a business model.

Last week’s Entrepreneurship 101 lecture on Building a Business Model featured Ajay Agrawal, Professor of Entrepreneurship at the University of Toronto’s Rotman School of Management. Professor Agrawal teaches courses on strategy, innovation, entrepreneurship and creativity, and last Wednesday he was here at Entrepreneurship 101 to show you how to clearly define your business model.

For more help on designing a business model for your startup, watch the Quick Hits video below.

To watch the entire lecture, click here.

Resources:

Can’t make it this week? Check out our new live webcasts here.

Marielle Voksepp

Marielle works as part of the education team at MaRS. She helps entrepreneurs get access to business resources both online and in-person. See more…