The My Startup course continues!
This week, the participants of the My Startup course at Ternopil Business School continued to work on their startups and choose the best ways to monetize them. Some student teams developed new monetization methods that best fit the specifics of their innovative projects.
Even at the business idea stage, the startup project team must understand how to make money from it. Monetization provides an answer to the key question of who pays the startup and for what. The growth of a startup is a kind of symbiosis: consumers need to feel the value of the product, and founders need to receive equal value from them.
The effectiveness of the chosen monetization methods can only be checked by testing the value proposition on real customers, because a startup is a big experiment!
