How to build a Successful Business Model or a Business Plan?

Business Models are crucial for the success of an enterprise or even a startup. So what do you need to focus on while building up your business from scratch? A Business model or a Business Plan (B-Plan) helps you to plan this properly.

  • What are the firm’s core capabilities?
  • How does the firm deliver value to its clients? How does the network with its partners/collaborators (value chain) add to its core competencies. How does the value chain model collaborate with the firms current strategies?
  • What is the cost structure in the business vis-a-vis that of the firm?
  • How is the value proposition unique and sustainable in the long run?
  • How does the firm manage its distribution channels and relationships / liasons with the customers?
  • How is the targeted customer contacted, acquired and retained?
  • What are the sources of revenue and the structure of the same?
  • How does the vision/mission statement adhere with what the firm is doing now and what it is planning to do in the future.

Author: Kar

Dr. Kar works in the interface of digital transformation and data science for business management domains. Professionally a professor (IIT, IIM) and an alumni of XLRI, he has extensive experience in teaching, training, consultancy and research in reputed institutes. He is a Regular Contributor of Business Fundas and a blogging addict. Note: The articles authored in this blog are his personal views and does not reflect that of his affiliations.