How does the business model work? What should I consider in my business model? This concept is widely used when starting a new business or a new project. Sometimes as entrepreneurs we believe that we must have the last detail of our idea to make it work, but this is not always the case.
What is the business model? It is the structure in which our business is going to work, from where we are going to get the supplies to the distribution channels.
How can I arm it? You can work with a "Canvas" that has:
- key partners
- Key Assets
- key resources
- Cost structure
- Value proposal
- sources of income
- Relationship with customers
- customer segments
Image source: marketingyfinanzas.net
What should we take into account? In this case we must consider the executive summary , finances , sales plans , implementation plan, competitive analysis, etc.
Sounds complicated, EMI, do I really need all that? No, the most basic recommendation is, establish a product and service, establish the sales channels and how you are going to approach your customers and start.
At first it will not be perfect, but it is a learning process that you improve day by day.
Source of the cover image: https://www.guillemrecolons.com/programa-de-business/