If there is an idea or a concept that the people around you are begging to turn into a business, why not go for it? Not only will you be doing what you love to do, but you will also be bringing in the green. A business model is an absolute must for any startup. But which one will you go for?
This article will aim to cover all of the best ones for your business. Remember that the model you choose has to tie with the customer pain points that your startup is trying to relieve. It must deliver better results than your competition. In the end, it is your call to make.
One of the best models that prove to be very effective is one about becoming a marketplace. This is the one about bringing supply and demand together. If you want to look at a business that made great use of this model, just look at Airbnb. There are a number of advantages to using this model.
One of the best pros that come from this is that there is little to zero overhead. There is also no inventory. You can get plenty of office space or even run the company virtually. You are bringing the sellers to the buyers, without having to worry about the manufacturing costs.
That way, the customers are ensured that they are getting exactly what they want and at discounted rates. Amazon is one of the finest leaders of this model.
The main job of this model is to make ads for specific websites, apps, or any other product and then placing them on strategic or high-traffic channels. If you are working for a web-based company, then Google’s AdSense is your go-to tool for making ads. AdSense will earn about $5-10 per 1000 page views for most sites.
It is one of the simplest ways to earning but it can be difficult because you have to get the attention of millions of users first.