Start-ups developing their business model have every interest in experimenting with business models! This is the conviction of Valérie Sabatier, director of the doctoral school at Grenoble Ecole de Management, who explains that creators of start-ups looking for the right business model should not limit themselves to theoretical thinking.
They should test and experiment with business models. Whatever the outcome, they will surely learn a lot about their working environment and at the same time they will give their project visibility and thus raise awareness of it. It may even be a chance to convince potential partners or investors to come on board.
In the creation phase, start-ups will experiment by initiating exchanges with customers, industry experts, technology partners, product providers, and more. At a more advanced stage of development, such as the first fundraising campaign, start-ups will experiment with pilot projects and prototypes, for example with an application to sell a product or service. The data collected in the experimentation phase will provide tangible knowledge on the market and ecosystem that will in turn help to convince investors and strengthen the credibility of the startup.
