“To me, ideas are worth nothing unless executed. They are just a multiplier. Execution is worth millions.” – Steve Jobs
Developing a great tech idea is easy for many entrepreneurs, but the ability to create something that is scalable, is useful for customers and solves real problems can be a challenge. For innovation to excel, entrepreneurs must have the ability to execute, and this is dependent on the business model.
At Farm491 we work with a number of fast growth innovative companies. With there being so many different business models out there, it can be difficult for entrepreneurs to choose the right one for their business. Sometimes a combination of several can create the perfect mix.
We work closely with our members to distinguish what makes a business model work, and Project Breakthrough have addressed this with six business model levers. Execution isn’t dependent on all six of these being implemented, as each company’s culture and strategies will require a different combination.
Below are some characteristics of these models seen at Hello Tractor. Read through and see which of the above fit into this business model.
Hello Tractor
As you may have noticed, Hello Tractor include a number of the business model levers. For small-holder African farmers, most farm work is done manually, so even the simplest of jobs can take days or weeks to complete. Hello Tractor have recognised this and created a business model that fulfils the needs of their customers whilst also generating revenue. The business model also favours John Deere who have gained a larger customer base.
If you are an AgriTech/agri-food entrepreneur looking to scale, wanting to discuss your business model, or would just like to learn more about Farm491, then please get in touch with sarah.carr@rau.ac.uk.
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