The four stages of a business model are, preparation,
creation, implementation and evaluation. These stages
are made up of components which make them work and
flow into the next stage.
The second stage of the business model, the creation
part, is set up through an ABC system.
A- is to attract future customers.
There are three components in which to do this. First,
you must find your products. This is not as easy to do
as some make it out to be so it is important to
investigate and choose each product carefully.
Pick the best products available. Ones that you may
have experience with already or ones you know
something about or have an interest in.
The next component is setting up business to find
leads. Write articles about your product and get it
out over the Internet. Subscribe to lists that allow
you to find out ideas about your products or
interests.
B- is to bag and capture potential customers.
Set up a system to secure leads. This can be done both
online and offline.
Online you can use an auto-responder system where you
give visitors to your site or blog a free purchase or
gift for subscribing to your newsletter.
Offline you can use newsletters competitions and
giveaways to get people information about your
products.
This will also build relationships with prospects. You
will also find your niche through surveys and
research. Ask your prospects what they want, what they
are looking for.
C- is cashing in.
You will begin to see profit from the sales made to
customers and this is where you will finally begin to
see your business succeeding.
The Right Home Business Model
There are more business models to choose from today
than ever before. That is because there are no so many
different types of businesses.
You can start a full time, part time, at home or
totally mobile, online or brick and mortar in a
commercial location.
But each business requires the right kind of business
model, including the home business.
The key is to choose the business model that fits into
your plans for your business.
The right home business model will ensure that you
spend the right amount of hours each week, that you
take the right level of risks, that you are practical
in terms of your finances and that you gain the kind
of satisfaction and success that you can dream of.
First decision you have to make is how much time you
want to devote to your business. Will you decide to go
with a full time business model which means leaving
behind whatever it is you are currently doing and
devoting all your time to your new business venture?
A home business has many upsides to it. There are
usually less risks and a lower start-up cost than a
brick and mortar business, simply because you do not
have the expense of real estate, staff, etc.
Home businesses are easily scaleable. You can make
them as big or small as you need them to be and you
will have virtually no commute. You can outsource to
keep things simple. You can hire companies to do your
public relations, warehousing, shipping and even
manufacturing.
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