Back-of-the-Napkin Business Model
What is the Back-of-the-Napkin Business Model?
Slang for a draft.
How Does the Back-of-the-Napkin Business Model Work?
Ideas often strike in odd places, and more than one entrepreneur has found himself jotting business ideas on any available surface -- including table napkins. Typically, the entrepreneur makes a quick sketch of the idea or writes down a few key, fundamental points that become the basis of the formal business model later.
Why Does the Back-of-the-Napkin Business Model Matter?
Though ais just an outline, it is also the essence of a business venture. Most entrepreneurs know that funding for a new business is very hard to obtain without an ability to summarize the idea concisely and seductively. However, a successful business involves far more than just having a good idea and a table napkin; it requires detailed knowledge of operations, finance and other expertise in order to survive.
Personalized Financial Plans for an Uncertain Market
In today’s uncertain market, investors are looking for answers to help them grow and protect their savings. So we partnered with Vanguard Advisers -- one of the most trusted names in finance -- to offer you a financial plan built to withstand a variety of market and economic conditions. A Vanguard advisor will craft your customized plan and then manage your savings, giving you more confidence to help you meet your goals. Click here to get started.