Be Smart About Your Business Model

African American woman business owner

It seems like you should have some business before you have a business model, right? 

Suppose it’s your dream to create a business unique enough to eventually franchise and grows so big an investor wants to buy you out.

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That’s a great dream, but that dream won’t come to fruition without a solid structure from the beginning. People don’t just stumble into that sort of success. 

Edward Hillary people do not decide to become extraordinary, they decide to accomplish extraordinary things

It seems like you should have some business before you have a business model, right? That’s a great dream, but you need a solid structure first. #business #planning #businessmodel

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Creating a business model and sticking to it provides a structure that will support the growth — including rapid growth — of your business. 

Here are some things you will want to consider as you establish your model:

  • What do you want to achieve with this new business?
  • Are you looking for a steady source of income? A retirement side gig? A side gig that can move you out of your current job? 
  • What size of business do you have in mind?
  • Are you happy dealing with customers one on one or working alone as a solopreneur? 
  • Do you envision your business growing large enough to need staff?
  • Do you want to stay local or does the idea of busting county and state lines excite you?
  • Will you need a retail, manufacturing, or office space?
  • Do you want to stay small or do you want to be the next public offering on Wall Street?
Ambani if you don;t build your dream someone else will hire you to build theirs

Maybe it seems a little early to ask these questions considering you don’t even have business cards yet — but laying a solid foundation from the start is what makes the difference between a successful business and one that will be old news by next year.

Sandra Hughes

Sandra is an author, entrepreneur, and business strategist. Drawing from 30 years of business building experience, she mentors new and aspiring entrepreneurs — providing big business tools to the small business owner so they can turn their visions into profitable businesses.

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