Joe thought he had a clear idea of what "business model" meant. But he likes to check his ideas against others before he goes blabbing it to the world… and what he found was really surprising.
Even with reliable sources of business information like Harvard Business Review, he found a hodgepodge of mixed concepts all being called a "business model". These were concepts that were not "either/or," so picking a business model could mean picking two, three, or even four of these concepts.
If you don't know it by now, Joe is a self-proclaimed geek and proud of it. He decided to dig in and break these into categories and build a system for applying them to any business.
This categorization is his own work… and it's definitely not perfect. You may disagree with him or have ideas to extend this further. And if you find someone that's done this before, please point it out and let us know. Plagiarism - even unintentional - is not our thing. We just want to get better at helping solopreneurs. Go to the Solopreneur Success Cycle section of the LifeStarr community and drop a comment or email firstname.lastname@example.org and tell us what you think.
What you'll learn in this episode
Here's a link to our Business Model Builder Tool. Check it out!
- Why business models are important
- A walkthrough of various business models to consider for your business
- Examples of companies that fall under each category
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