The business model is at the core of any successful startup because no matter how cool an idea is or how unique something may seem, a startup must have a viable way of making money that is worthy enough for future investment and to sustain itself. Many new startup founders throw around the term “business model” when discussing and planning strategies for their venture. In this video, Arun Kumar clearly explains the top 10 business models and factors associated with it and Questions like “What business model works best with my idea?” or “How do I know if my startup is using the right model?” is being answered.
A business model is supposed to answer who your customer is, what value you can create/add for the customer and how you can do that at reasonable costs. Thus a business model is a description of the rationale of how a company creates, delivers and captures value for itself as well as the customer.
Once you begin to compare one model with another, you’re entering the realms of strategy, with which business models are often confused. Why Business Models Matter and the principles to make a simple and useful distinction, pointing out that a business model is a description of how your business runs, but a competitive strategy explains how you will do better than your rivals. That could be by offering a better business model — but it can also be by offering the same business model to a different market.
Arun Kumar is an energetic and dynamic business mentor, a certified marketing consultant and a John Maxwell certified speaker has been an entrepreneur for over 15 years with 5 different brands. In one-month alone Arun has brought in 15 million USD from the influences of his strategic market planning. Medical Legal Spider currently serves 900 clients. His organization serves over 2000 web and mobile sites while employing 300 employees globally and domestically. With a proven methodology, Arun has become a leader in agile marketing.
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A business of impact is the business of the future. Thalam aims to unleash the power of the Tamilian wave and make a global impact by sharing the secret sauce behind every successful business venture. We believe that this initiative will empower many first-generation entrepreneurs and inspire those who are already a part of the country’s entrepreneurship ecosystem to excel even further to fight income inequality and eventually eradicate poverty in our community.