When you are creating a business model for a startup company, what are the most important things to include?
You want to use a business model that is already proven if at all possible. Successful businesses leave footprints… so follow them.
In general, you want a model that produces a profitable result. Simply put, you do something fast enough or can sell it for a price that creates a margin that is appealing. Your system’s first priority is to produce this result.
Second, you want systems in place that produce consistency in everything you do: Delivery, customer experience, customer service, etc.
CREATING YOUR STARTUP BUSINESS MODEL: Focus on these 3 principles initially and you should be in good shape:
- Mirror an existing successful business model.
- Create a model that produces profit.
- Create a model that is systematized, delivering repeatable results.
