If you are definitely starting your own company that you have been planning with a lot of time and effort, you must first make sure that you create your business model so that it goes the right way later.
Javier Megias, Business and Trade Specialist, explains that there is a pattern for all business models that we need to think about before we know we’re ready to start.
- Do I solve a real need?
It is better that you start with a company that directly solves a customer problem, that would be a real need.
The assumptions or intuitions for creating a new market are not always bad, but you will always have better results if you understand that there is a need for a customer that you need to solve when buying your product or service.
- What sets you apart and is better than the competition?
All companies that want to excel should think about this point. It is important to highlight the difference in which customers will prefer your products, as well as the difference in your business model.
This includes how to reach customers, how you charge them, what help you give them, etc. Competition will always exist, what you need to do is think about those things that will make your customers value you and need you.
- How will you get customers?
As long as you have a good product, customers won’t come to you alone. You need to set the best path that will attract customers to your business.
The internet is a good tool, but if you have to invest to get the attention of your customers, you need to do it and be ready for it before you win the competition.
- How do you make money?
You need to study the way your business model generates profits.
A business that is only a part of many revenue streams is not convenient because there are many ways you can make a profit and not just one. You need to be programmed before that model can fail at some point and generate losses.
- What will he do to grow your business?
Think of it as having to consider your future marketing and design strategies for your product so that you have a model that is also thinking about improving the quality of your service so you can grow with your company.