Jim asks the question “What is your expectation for your business?” Or an even simpler question is “What kind of return are you hoping to get?” If your expectation is that you get high returns from operating your business, you should look at your business model.
A business model helps businesses realize the economic value of their product, services, business and/or technology.
The best business model that Jim found is the “Software As A Service” or SaaS model. These companies develop a solution for companies, but they don’t sell ownership of the solution to the clients, they license it. This can be profitable but every business cannot use this model. But you are in luck, there are many business models out there for most any type of business.
The online site howstuffworks.com listed the Top 10 Influential Business Models and the companies that use them:
- The P2P Revolution: Etsy, Kickstarter, PayPal, Craigslist
- The Everything Store: Wal-Mart
- Lifestyle Takeover: Apple and Google
- Software First: Microsoft
- The Modern Franchise: McDonald’s Corporation
- Growth First: Amazon.com
- Just In Time: Dell
- One Day, One Deal: Woot, Groupon, LivingSocial
- Offer Aggregation: Kayak, eBay, Amazon
- Name Your Price: Priceline
It doesn’t matter what your business is or why you are in business, you have to have customers and that usually comes down to sales.
In celebration of Communications Concepts, Inc. 40 years of being business, CCI’s President and Founder, Jim Lewis, is sharing 40 tips that he has learned throughout the years about how to survive and prosper in business.
It’s our hope that by sharing tips from our company’s 40 years of experience, this information helps you to improve and grow your business. Subscribe to our social media accounts so you that don’t miss our future business tips and videos on a variety of subjects.
Look out for our next video. Jim will discuss “Discounts and Profits”.