HOW TO CHOOSE THE RIGHT Online Product BUSINESS MODEL?

Looking for HOW TO CHOOSE THE RIGHT Online Product BUSINESS MODEL?. Talking abut starting your own business, one need to be very particular. It’s important to be particular when it comes to picking a business model for your startup idea, there are many options to explore. Here we’ve handpicked the number of remarkable revenue models and partnership ideas designed for you.

Browse the following list and copy the elements that you require. Use all the examples and tools as an input tool for your business plan. Feel free to do so.

7 Steps for Establishing the Right Business Model

1. Size the value of your solution in the target segment.

Clients often complain that their existing approaches are not intuitive.

2. Confirm that your product or service solves the problem.

Once you have a prototype expose it to real customers to see if you get the quality excitement and delight that you feel.

3. Test your channel and support strategy.

Pitch the entire business model to a group of customers or to selected focus group.

4. Talk to industry experts and investors.

A small advisory board of outside people with experience in our domain can give the unbiased feedback we need.

5. Plan and execute a pilot or local roll out.

Good traction on a limited roll out is a great validation of any business model.

6. Focus on collecting customer references.

Extra attention must be given to those first few customers, ask for publishable testimonials and word-of-mouth support in return.

7. Target national trade shows and industry association groups.

Need positive visibility, credibility and feedback from these organizations as a validation of the business model, as well as product model, in the context of major competitors.

 INSPIRATION FOR BUSINESS MODEL:

How to make money by First Knowing HOW TO CHOOSE THE RIGHT Online Product BUSINESS MODEL?

To make money is the dream of everybody today. Well, this is the most common business model options used by online services and e-businesses. Remember this list is not limited to digital revenue streams.

Free (or nearly free) for the user:

  • Premium model
  • Barter or Swapping for services
  • Barter or Swapping for products
  • Early exit strategy
  • Pay-what-you-want (PWYW)
  • Tip jar/donation

Paid (direct sales business model):

  • Add-ons/In-app purchases
  • License fees
  • Single purchase model
  • Pay-as-you-go model (PAYG)
  • Subscription model
  • Premium model
  • Pay-per-use model

Third Party options:

  • Broker/Matchmaking
  • Commission-based model
  • Auction model
  • Advertisement (Ad-based) model
  • Affiliate/Referral fee
  • Get-one-give-one model (G1G1)
  • Franchise model

Mixed business model:

  • Open source model
  • No frills model (discount or budget model)
  • Razor and blade model
  • Crowdfunding