In the latter situation, the startup has to adopt an experimental and adaptive approach in order to discover, calibrate, and validate its customer segment as well as financial viability of its business model.To date, however, many startups with unvalidated products have focused on developing and executing business and financial plans in the manner of established businesses with validated and profitable business models.Unlike in Waterfall Business Planning, the Disruptor’s Arrow of Time uses a business model as unit of analysis, planning, design, and innovation.Tags: Christmas Eve Descriptive EssayEssay On The Road To DemocracyWww.Creative Writing.ComCourses On Creative Writing In MumbaiPierre Radison Comparative EssayAncient Roman Research PapersCoral Research Papers
Consequently, current definitions of a business model ignore fundamental properties and attributes that govern competition, survival, and prosperity of living systems.
In the absence of a direct link to living systems, the large existing body of knowledge on living systems cannot easily be transferred to the domain of planning, designing, evaluating, and managing business models.
The core cause of the high rate of failure of startups is attributed to Waterfall Business Planning which is traditionally used to plan and deliver the products of startups  regards the Waterfall Model as suitable for established companies that already have a validated and predictable business model: the product is known and used in a financially viable market with established channels and customers.
In the case of a budding startup, the business model is uncalibrated since the final version of the product is largely unknown and the startup does not have an established channel and customer base.
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According to the Small Business Association of America, 50% of startups die within five years.
Seventy percent of businesses die within ten years from birth.
In short, many startups are using Waterfall Business Planning.
Consequently, many startups run out of money, time, and other resources before discovering and validating a profitable business model especially in a volatile environment.