Base Business Creation Model

Abstract

It is essential to use some management tools to help new and old entrepreneurs assess their business ideas before entering the market. One considers BBCM (Base Business Creation Model) as a straightforward approach to evaluating a business׳s economic and financial viability, considering the main issues for its success. This model starts with identifying a human or social need for a product (good, service, idea, experience, information) to be satisfied. Entrepreneurs should be market-oriented and study the technical and commercial viability of the product through market and marketing research. Then, they design a marketing strategy, determine the needed processes, team, and partners, define the mission, estimate the forecast budgets, and perform the financial viability assessment. These BBCM steps are crucial to inform entrepreneurial decision-making.