My first business started with a model. The model and the vision were so tightly connected. The value prop to customers was the business model.
We got a lot of things wrong with the product, the market, the channels, and the operational side. But the model was right.
I used to believe the model was less important than the vision, the product, or the market. Now I think the model is the most important building block.
It’s not easy to find a good one where the incentives, ability and willingness to pay, and value delivered all line up properly. Lots of companies can create value so someone. Lots of parties will pay for stuff. Not many businesses align who gets value with who pays, how they pay, how much they pay, and when they pay in good order and in a way that leaves sustainable margins. Before even determining how big the market is or how to deliver, the model has to make sense.
Playing around with business models might be a better starting point than playing around with products.