BFY.12 (BUILIDNG IN FRONT OF YOU) BUSINESS MODELS AND POST PANDEMIC FORMULA - WILLIAM EASTMAN
Hopefully my enthusiasm for the topic won't get lost in the weeds. This is one area where what is essential to large corporations and small companies is the same. My personal opinion as well as that of many of my former colleagues, agree that the founder must get this right - you must know what business models will allow you to create and capture the most value.
Before we start let's define a business model: the term business model refers to a company's plan for making a profit. It identifies the products or services the business plans to sell, its identified target market, and any anticipated expenses. Business models are important for both new and established businesses. They help new, developing companies attract investment, recruit talent, and motivate management and staff. Established businesses should regularly update their business plans or they'll fail to anticipate trends and challenges ahead. Business plans help investors evaluate companies that interest them. (Investopedia)
KEY TAKEAWAYS (Investopedia)
WHAT YOU NEED TO KNOW
As we stated in Season 3 (Oct-DEC 2020), IBGR had 2 challenges - creating supply with OnAir Talent (Hosts) and demand with listeners (Members). Well that is somewhat true. Initially we do have what is called atwo-sided problem (supply & demand) but reality it is a multisided problem with hosts and listeners just the first of several problems to solve.
Some Referent Information:
Here is our multi-sided (at the moment 4) problem to build the business on.
WHAT YOU NEED TO DO
IBGR's 7 Steps Solution for Each Side of the Problem
"Business Solutions At Your Fingertips"
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