Embarking on a startup journey? Your idea is just the start! You need a roadmap and a treasure map – your Business Model and Revenue Model.
𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐌𝐨𝐝𝐞𝐥: This is your roadmap. It outlines how your startup operates, makes money, and achieves its goals. It’s your strategy to deliver value better than your competitors. It’s what makes investors take notice!
𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐌𝐨𝐝𝐞𝐥: This is your treasure map. It’s your plan for generating income, identifying where the revenue will come from, the product price, the target customer base, and projected sales. It’s the key to attracting investors by showcasing your startup’s profitability potential.
Remember, the most successful startups are those that can adapt their business and revenue models in response to market changes or new opportunities. So, keep updating these models as your business grows.
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