Make Money from Good Ideas…
As entrepreneurs it is not enough just to get lots of ideas. We also have to be able to make money from them and find the business model that is right for us. So what different possibilities do we have to make money from a good idea?
There is a big difference between having a good idea and having a good business idea. The difference is whether or not you have found a good business or revenue model for where the money is going to come from and how to make money on the idea. The term “business model” is not used every day and it is often used in many different ways. The most simple way to understand a business model is to look at the way a company writes invoices. The lines of the invoices tell us what the customers are actually paying for – and therefore what the company actually makes its money from. The company might sell products at unit price and/or sell services that are invoiced according to the hours spent. Maybe the invoice will show that the customer has a subscription or that there are fixed prices on certain services. But what kinds of business models or revenue models are right for making money in your business?
At least 26 types of revenue models