ABSTRACT
Chapter 3 shows how to create a digital business design—a high level overview of the main aspects of a digital business that can be captured in a short document. Each digital business design starts with a value proposition describing the purpose of a digital business and its competitive advantage versus alternatives. The core process of digital business is described through the ‘ABC’ process: acquisition, behavior, and conversion. Acquisition is the attraction of visitors to a digital presence through channels such as search, social, and paid advertising. Behaviors are the actions performed by visitors on a digital presence. Conversions are the specific actions on a digital presence that reflect a successful business transaction such as a purchase, an advertisement click, or a contact request. The first major milestone in digital entrepreneurship is the creation of a digital business design, which includes the customer value proposition, the ‘ABC’ process, and an estimate of the number of successful conversions per month.
