Pam defines a Business Model:
A business model describes the rationale of how an organization creates, delivers, and captures value – economic, social, or other forms of value.
She lists 10 ways that a properly designed business model will help you make decisions to build your profits. But the thrust of the article are 14 questions you can use to structure and describe your business model:
1. What is my core value I offer customers?
2. What is my zoom facto; how are my services unique?
3. What intellectual capital do I need to protect?
4. What is my sales model?
5. What is my service model?
6. Should I sell my products online, offline or both?
7. Who should I partner with to develop and deliver services?
8. What type of clients should I target and serve?
9. What type of clients should I not serve?
10. What is an ideal partner for me to collaborate with?
11. What should I outsource versus do in-house?
12. What type of pricing models should I implement?
13. What infrastructure is required to support my business?
14. What mediums should I use to market and advertise my products and services? How should I use social media to market my business?
For more information about these questions AND the list of What a Business Model Can Do For You, read Pam’s entire article HERE