There are so many different business models available to run your business.
What model you adopt can very much determine your business success in some instances.
For example, a restaurant has very different characteristics compared to an Accounting Firm. An Accounting firm has very different characteristics compared to a software product.
We have evaluated various business models based on 10 factors:
- Profit Margins
- Market Size
- Valuation
- Simplicity
- Scalability
- Recurring Revenue
- Capital Requirements
- Skills Requirements
- Speed to Profitability
- Labour Intensiveness
Analysing business models from these 10 perspectives will help you understand your business position and allow you to change models if suitable. Even though you may feel your business is different, most times it is what other businesses with the small business model in the same market are experiencing so if you want different outcomes then you need to think outside the box and be ready to disrupt your own business model.
Are you ready?