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How do I decide the worth of my business idea?

It is said that the most difficult part about having a business idea in any

sector is to decide its worth, even though in the social economy we believe

any idea would have greater social impact. By filling in a business model

canvas template*, you will be able to quickly and easily identify your

business idea.

In what ways do I consider the impact of my idea?

Due to their commitment with societal support, social innovation businesses like yours also

need to consider additional aspects such as negative and positive social, environmental and

economic externalities and their link with the United Nation’s sustainable development goals.

You can either add these new sections to your business model canvas or fill in a sustainable

business model canvas template**.

At what stage of planning do I need to identify the worth of my

innovation product or service?

This should be right after you write your business value proposition statement, as you have

clearly identified what differentiates your idea from other competitors and now, with the

business model canvas, you will visually represent that idea and identify all key strategic

factors.

*Suggestion: www.strategyzer.com/canvas
**Suggestion: www.sustainablebusinesscanvas.org