Using business model tools in entrepreneurial start-ups: insights and inconsistencies

Jessica Lichy, Yuan Zhai, William Ang’awa

Research output: Contribution to journalArticlepeer-review

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Abstract

Business Model (BM) tools are essential for start-ups to innovate and succeed, however, there is a gap between academic research and real-world application. Our study explores how start-ups use BM tools, using case studies and interviews with founders. We found two main patterns: Reactive Iteration, where start-ups use BM tools selectively in response to specific needs, and Adaptive Training, where hands-on mentor-led learning is preferred over theoretical models. Start-ups often focus on product development first, causing inconsistencies in their use of BM tools. Our research highlights the need to adapt BM tools to the practical realities of start-ups, ensuring they are both conceptually rigorous and practically relevant. This adaptation is key to helping entrepreneurs effectively use BM tools for innovation and growth.
Original languageEnglish
Pages (from-to)1-33
JournalJournal of Small Business and Entrepreneurship
DOIs
Publication statusPublished - 31 Jul 2024

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