Your strategy for making your startup work for you will decide its competitiveness in the market. You would want to gain a sustainable advantage over your competitors and that starts with the right business model. Now that you know what a business model 212is and the various types of business models, it’s time to learn what key elements constitute a business model and how to develop a perfectly sustainable business model for your company. A great business model focuses on creating and delivering great value to the customers while simultaneously delivering great margins. A great business model should also look to avoid customer dissatisfaction or dissonance and funding problems. It should also incorporate plans and methods to achieve and maintain market leadership. Developing the right business model requires similar efforts as developing the right product.
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