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A small business blog featuring tips to help entrepreneurs succeed in the small business world. Topics include family business, human resources, marketing, money, networking, operations, ownership, startup, taxes and technology.
What’s Your Business Model?

Quite simply, the business model is an explanation of how a company will generate revenue to meet your expenses and earn a profit. It also explains the sources of the company’s revenues, how much these sources pay and how often.

Is your sales product or service based? Based on this question, here are several types of business models that you could implement or enhance to further your income.

Fee for Service Models:
1) Day Rate
2) Project Fee
3) Monthly Retainer

Product-Based Models:
1) Flat Fee
2) Subscription
3) Bait and Hook

If you aren’t earning as much as you would like through your business, the marketing plan may not be at fault. Take a look at your business model and determine if changes are needed.


Related Small Business Buzz Posts:
Avoid Getting Gypped by Fraudulent Web Designers
Moving from a Home Office to a Commercial Space
Using Your Business to Serve the Community
Estimating Income Tax
Starting a Successful eBay Business (Part 2)

By Chris Brunner
Thursday, September 27th, 2018 @ 12:05 AM CDT

Operations |