Business model discovery
Prior to launch use Maltix Smart Form Pages with in built LIKERT
William Nicholls
Last Update a year ago
Guessing your clients needs and wallet is a huge gamble, here is a brilliant way to do your research before you invest in your business model.
Available within Maltix QR Business Application plan
Here is the Maltix Survey, it gives you an idea just how powerful your research can be PRIOR to the massive effort of creating a business plan
Using Likert scales can be an effective approach to investigate and assess various aspects of a business model. The Likert scale is a commonly used rating scale that allows individuals to express their level of agreement or disagreement with a series of statements.
It provides a structured way to measure attitudes, perceptions, opinions, or preferences.
Here's how you can use Maltix Likert scales to investigate a business model:
Define the research objectives:
Clearly identify the specific aspects of the business model that you want to investigate. This could include factors such as customer value proposition, revenue streams, cost structure, key activities, or any other relevant components.
Develop statements:
We help you create a set of statements that capture different dimensions or elements of the business model. These statements should represent the aspects you want to investigate. We ensure that the statements are clear, concise, and free from bias all within your Maltix Silver subscription.
Determine the Likert scale format:
Maltix Likert scales typically consist of a series of statements and a response scale ranging from strongly agree to strongly disagree. You can use a 5-point scale (e.g., strongly agree, agree, neutral, disagree, strongly disagree) or expand it to a 7-point or 9-point scale if desired.
Pilot testing:
Before implementing the survey we help you conduct a pilot test with a small group of participants to ensure that the statements are clear and the scale is effective. This step helps refine the survey instrument and identify any issues or confusion that may arise.
Administer the survey:
Distribute the survey to your target respondents, such as customers, employees, or industry experts. Ensure that the sample size is sufficient for meaningful analysis and that the respondents have a good understanding of the business model being investigated.
Analyse the data:
Once you collect the responses, calculate descriptive statistics such as means, medians, and standard deviations for each statement. This analysis will provide an overview of the respondents' perceptions and attitudes toward different aspects of the business model.
Interpret the results:
Interpret the results to gain insights into the strengths and weaknesses of the business model. Identify areas of consensus and areas where there are divergent opinions. This information can guide decision-making and potential improvements to the business model.
Remember, Maltix Likert scales provide quantitative data, but they do not provide explanations for the responses. We help you supplement the Likert scale questions with open-ended questions to gather qualitative insights and further understand respondents' reasoning behind their ratings.
Maltix Likert scales can be an effective tool to investigate and evaluate various dimensions of a business model, helping you gain valuable insights for decision-making and improvements.