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Starting a Business All-in-One For Dummies, 3rd Edition
book

Starting a Business All-in-One For Dummies, 3rd Edition

by Eric Tyson, Bob Nelson, The Experts at Dummies
April 2022
Beginner content levelBeginner
656 pages
17h 51m
English
For Dummies
Content preview from Starting a Business All-in-One For Dummies, 3rd Edition

Chapter 3

Creating a Business Model

IN THIS CHAPTER

Bullet Examining who needs a business model

Bullet Finding out what all business models have in common

Bullet Breaking a business model into its simplest form

Bullet Perusing popular business models

Bullet Considering how competitive advantage fits into your business model

So what is a business model, anyway? Is it the way you make money? Yes, in part. Is it competitive advantage? Yes, in part. Is it your business plan? Not really. Simply put, a business model is your profit formula. It’s the method you use to acquire customers, service them, and make money doing so. You can break down a business model into three primary areas: Offering, monetization, and sustainability. What is your offering? How will you monetize the offering? How will you sustain it?

Many businesspeople mistakenly believe that a business plan and a business model are one and the same. They’re not. Your business model is the core concept upon which you build your business plan. Therefore, your ...

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Publisher Resources

ISBN: 9781119868569Purchase Link