OFB 71 | Models Come in All Shapes and Sizes

Open For Business

English - June 17, 2015 19:17 - 38 minutes - 51.5 MB
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Previous Episode: OFB 70 | Johnny Mac & Me

Next Episode: OFB 72 | Joe Zwiebel | Selling to Flat Organizational Charts

Issue: Your business model is about how you make money.

Rules: Sell products - gross margins rule the day

Sell personal services - hourly optimization is key

Sell knowledge - licensing and distribution matter

Solve a need - Uber has no cars; Alibaba has no inventory

Actions: Answer the following questions:

What problem do you solve?

Is it worth solving?

Is anyone else focusing on the problem?

Are you better?

Will people pay for the answer?

Will they pay enough to make it worthwhile?

Conclusion: A unique business model that solves a problem and makes money

Dissent: Speed to market and resources