Two people can have the exact same business idea.
But it’s the person with a better business model who will likely succeed.
That’s why business models are so powerful.
But what exactly is a business model?
What does it mean?
Here is a good example:
This month, Apple became the first company in the world to be worth more than $2 trillion.
Yes, that’s TRILLION.
Apple is a successful company because of the gadgets it sells — iPhones, iPads, iMacs, etc.
But guess what…
Apple doesn’t own a single factory that makes phones or gadgets.
It’s part of Apple’s business model.
And that’s what makes a good business model so powerful.
Every business model has 3 important parts
In this week’s episode of the Smallstarter Business Podcast, I explain each of the 3 parts that make a successful business model.
By changing at least one of these 3 parts, you can create a unique advantage for your business.
Your business model affects how efficiently your business operates.
Your business model affects how much profits your business can make.
You’re going to learn a lot from this episode.