Creating a Business Model for a Startup Success

Startups often overlook creating a business model; when initially conceptualising their idea, but this can be a crucial mistake. Everyone from first-time founders to experienced veterans at the helm should prioritize developing a Business Model for a Startup to identify how they create and deliver value to customers, employees, and stakeholders.

According to a survey conducted in 2017, startups that worked on an effective business model early on saw their organisational success ratio double over the long term while also seeing a 7% higher likelihood of growth than those who did not focus on their business model early on.

But what exactly is a business model, and how can you create an effective one?

Read the full blog and Let’s first look at an example to understand why a Business Model for a Startup is essential.

Source Link: https://ethiqueadvisory.com/blogs/what-makes-business-model-for-a-startup/