Abstract
A start-up already at its origin has to solve the crucial existential condition that is a viable business model. The purpose of the research is to deepen and expand the knowledge about the structure of the start-up business model and its impact on entrepreneurial performance. Field research was carried out in three stages over one and a half years. The source of knowledge about the studied start-ups has been the personal experience recorded in the questionnaire. Start-ups are small closed communities that do not sufficiently shape external partnerships, cannot reach the customers, although they can identify them well enough, try to improve the business model blocks but they do not pay attention to their coordination and perceive the monetization in a simplified way. The impact of the business model on start-up performance has been confirmed but the internal blocks affect business performance unambiguously over the three stages of the research. The best conversion of users to customers and subsequently to revenues are distinctive for the start-ups with their own simple distribution channel and partners who are experienced distributors. The lessons learned can directly improve the results of start-ups when their incompleteness and imperfection will be substituted by appropriate partners. Start-ups provide a space for the new jobs and the self-realization of ambitious people with a sense of service for society. Empirical research on start-ups identifies their weaknesses and possibilities to increase their entrepreneurial performance.
Highlights
A start-up is an entrepreneurial experiment and a very small beginning enterprise that provides a space for self-realization, an opportunity to develop and implement unusual and risky ideas, an unparalleled satisfaction of existing needs and discovery of new needs
The advancement, success and survival of the start-up usually depends on the quality of its business model, team and business strategy
Among these three determinants of entrepreneurial performance, research focuses on the role of the business model, as it is considered to be the primary assumption of the existence of a start-up
Summary
A start-up is an entrepreneurial experiment and a very small beginning enterprise that provides a space for self-realization, an opportunity to develop and implement unusual and risky ideas, an unparalleled satisfaction of existing needs and discovery of new needs. A model is a tool for developing, verifying and implementing an entrepreneurial idea, a team is a small social group that creates a start-up personal background and the business strategy is a manifestation of the deliberate action of a start-up in a competitive environment. Among these three determinants of entrepreneurial performance, research focuses on the role of the business model, as it is considered to be the primary assumption of the existence of a start-up.
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