Business Model Development

Commercialization Process: Business Model Development


A Business Model describes the rationale of how an organization creates and delivers value in economic, social, or cultural contexts.  Business Model Development is the design for the successful operation of a business that includes idenfying revenue sources, customer base, products, and details of financing.  The Business Model is heavily influenced from the Customer Discovery, market research, and Market Requirements.  A viable business model aggregates these concepts into actionable information to set achievable financial forecasts and goals.

At this point an entrepreneur should have collected enough knowledge about the market to create a go-to-market strategy.  Now is the time to assess the team and determine their strengths and weaknesses. Create a plan to fill any voids.

How this Milestone Reduces Project Risk

The business needs a viable and profitable Business Model with enough customers to buy the finished product to be successful or to license the technology to another party. A business needs the correct team and resources in order to thrive, for which the Business Model helps identify and plan. The creation of a go-to-market strategy ensures that there will be concrete steps to take toward success.

What to consider at this time

Are the Business Model’s goals attainable? Is there a return on investment that makes this project worthwhile to the entrepreneur and investors? Does the team possess adequate skills to drive growth? Is there quantifiable intellectual property to drive business growth?


There are two modules in the Business Model Development Process: Business Model Development (BMD) and Fundraising Materials.

The first one to explore is the BMD where you will learn:

  • Cover and expand on key aspects of the Business Model Canvas and Market Requirements Document
  • Consistent documentation
  • Direct and focus the team’s energy toward successful commercialization
Business Model Development Guide

Creating a business model is a complicated process. This is the first step to help you understand the scope of the project.

Business Model Development Supplemental Reading

Before you fire off your BMD questions take a second to explore the supplemental reading.

Business Model Development Worksheet

This worksheet provides a path to follow that ensures that greatest level of success along the BMD runway.

Market Requirements Supplemental Reading

Marketing is a huge subject. This supplemental reading document will help you prepare for the next step.

The next module concerns pitching your idea to investors and customers. Here is a general overview of the material covered here:

  • Outline a concise introduction to the company and technology
  • Convey the most relevant facts while capturing audience’s attention, leaving room for questions
  • Organize goals of technology launch and an overview of financials into a concise and convincing pitch deck
  • Develop a realistic Ask and Call-to-Action to motivate and capture investor’s attention
Fundraising Overview

Money doesn’t buy happiness, but it will help bring your product to market. Open this module to learn fundraising mechanisms and what to expect from investors.

Example Funders Presentation

A great example of what a strong pitch deck would look like. Use it and share it with us!

SBIR and STTR Guide

Is an SBIR or STTR right for you? Dive deeper into these funding opportunities with this guide.

Fundraising Materials Guide

Crafting your pitch is a bit like refining your resume. It needs to be perfect and focused to derive your desired outcome. Start here to measure how far along the process you are.

Funders Presentation Storyboard Worksheet

When you are ready to build your own pitch deck open this worksheet and use the outline to help craft the perfect pitch.