5 Considerations for Identifying Your Business Model
Do you want to develop a business model?
Consider these 5 prompts for business modelling
1. Unmet needs
Is there a segment of the community whose needs aren’t being met? Is there something you or customers have asked for or wished for? What annoys people or customers? What problem needs to be fixed?
2. Disruptive options
Can you use new technology, apply innovation or create a new way of delivery or packaging that is completely different to your competitors – what would be completely disruptive to your market? Can it be your point of difference?
3. The product or service
What product or service would meet one or more of the above categories? What are its unique attributes?
What potential revenue streams can you create? Are they easily scaleable? Are any of them partly passive income? What packages or cost structures may be useful?
5. The Existence of Customers
Are there any real potential customers for this model and what’s their willingness and means to buy? Finally do you have the ability to reach them, wih the right team, resources, connectors, and influencers?
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