Defining a good business model begins with having a good strategy from the very beginning. This business model must be reviewed many times and, if necessary, changed and redesigned.

Some business models are as old as your enterprise itself, and others were redesigned when The Internet was born. Depending on what you are selling, your model will B2B or B2C. The simpliest one involves creating a product and then selling it to interested customers. You may just be a middleman or a distributor. Usually, the solution lies in a combination, no one thing is a solution in itself.

If you want to redefine your business model, at Business Innovation we can help you because our method can diagnose your status and recommend you some tips to increase the possibility of success. Download our free Ebook to diagnose your company.

Whatever type of business you have, there are sure to be values ​​that have to be taken into account to design your business model, especially if you want to redesign it.

Tips for designing a good business model

  • What is your target?

Define your target audience in a specific manner. Do not be afraid to clearly define your target audience. Often, companies do not know who they are selling to and in the end do not sell to anyone, because their messages lack a clear target and become empty messages with no personality.

  • What is your value proposition?

You must meet needs in an interesting or at least different way to other companies in your industry.

  • How will you become a love mark?

Love marks will conquer the market faster than brands or companies that don’t engage with the audience. And even in your company itself, your team will be more engaged if your enterprise is transparent, modern and dynamic.

  • Profit margin

You should know how much money you make by unit. Maybe the most important thing is to be an entrepreneur. It may be the difference between success and failure. If you know what you’re going to make per sale unit, you will know how many units you have to sell in order to make your company viable.

  • Is your TAM enough?

How many people could buy your product or service in your market or in the whole world? And at what price? You may want to sell something you think is a good product but there might only be two people interested in the whole world. Unless your product has a high price, your business would not be viable.

Obviously, there are many more things to designing a business model, and even more if you want to change and restructure it. In our program for entrepreneurs, Valencian Global, we help to transform local enterprises into global companies. Download our full program and contact us by filling in the application form.

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