What is a Business Model? | Up and to the Right | Episode 024

Small Business Podcast | Up and to the Right | Cover Art
Small Business Podcast | Up and to the Right | Cover Art

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Show Notes

It’s time to roll up our sleeves and get to work with another episode of the Up and to the Right Podcast.

Have you ever tried to explain how your business makes money? At first it might seem like a silly question.  But let's take a closer look and see if we can get some value out of the business model!

“I buy stuff from a wholesaler and sell it to the public…” 

“I make awesome furniture and sell it…”

We describe the process of creating or adding value and delivering that value to a customer a business model.

Why does it matter to you? 

There are many ways to create and deliver value and the better you understand your best business model or dare I say ‘business models’ (you don’t have to limit yourself to just one) - the better you will be able to make that system work well for you.

You may also find that you want to change or add it to better fit your market and business needs.

In episode 24 I’m going to touch on the concept of business modeling in the first of a two part series.

Click the link above or use your favorite pod catcher to listen to the full episode.

In the interests of actually producing the podcast and getting it out regularly I've dumped the intro videos. Is that a mistake? Let me know at [email protected]!

Thanks for listening!

You can subscribe to the Up and to the Right podcast on iTunes, Stitcher, Google Play, TuneIn and now there’s even a playlist on the Beyond 50 Percent youtube channel!

References & Resources

"Definition of 'Business Model'". Lexico

Link: https://www.lexico.com/definition/business_model.  Accessed December 12th, 2019.

Andrea Ovans. "What Is a Business Model?" Harvard Business Review

Link: https://hbr.org/2015/01/what-is-a-business-model. Accessed December 12th, 2019.

Caroll Kopp. "Business Model". Investopedia

Link: https://www.investopedia.com/terms/b/businessmodel.asp. Accessed December 12th, 2019.

"Business Model". Wikipedia

Link: https://en.wikipedia.org/wiki/Business_model. Accessed December 12th, 2019.

"What is a Business Model?". Dummies

Link: https://www.dummies.com/business/start-a-business/business-plans/defining-your-business-model. Accessed December 12th, 2019.

Martin Zwilling. "10 Most Common Business Models to Make a Profit". Inc.

Link: https://www.inc.com/martin-zwilling/10-most-common-business-models-to-make-a-profit.html. Accessed December 12th, 2019.

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