Whats your business model? A business model is the architecture of a business or project. It has four elements: 1. What compelling reason exists for people to give you money? 2. How do you acquire what youre selling for less than it costs to sell it? 3. What structural insulation do you have from relentless commoditization and a price war? 4. How will strangers find out about the business and decide to become customers? As the internet has spread into all aspects of our culture, it is affecting business models offline as well. Your t-shirt shop or consulting firm or political campaign has a different business model than it did ten years ago, largely because viral marketing and the growth of cash-free marketing means that you can spread an idea farther and faster than ever before. It also makes it far cheaper for a competitor to enter the market (#3) putting existing players under significant pressure from newcomers. [seth godin]
Posted on: Mon, 05 May 2014 13:53:57 +0000
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