If you are running a business or planning to start one, these are the 11 factors determining whether your model will be profitable.
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If you are running a business or planning to start one, these are the 11 factors determining whether your model will be profitable.
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4 replies to "How To Know Whether Your Business Model Will Be Profitable Or Not"
🗝️Business is All about solving problems.
11 Factors:
🧠 1. Passion: In tune with persona – Score 10
🚦2. Solving Problem: Problem Solving approach – My Score 9
🧑🎓3. Target Customer – 9
🏆4. Market Potential – 9
📌5. Building Community: Value Added
⚡6. What is X Factor- My Score- 7
🎯7. Pricing Strategy- Entry from 5999/- Advanced-19999
🏃♂️8. Marketing- My Score- 2
👩💻9. Business Review: My Score-8
⚠️10. Money Management- TWCGO Account
🎲Be Flexible: Be Rigid on your vision but be flexible on how you get that.
Passion – score 9
Solving problems – 8
Target market – 7
Market potential – 7
Building community – 5
X factor – 7
Pricing strategy – 6
Marketing – 2
Business review – 2
Money management – 2
Be adaptable – 8
Not sure how the guys above put a number to the Business Model. Would appreciate if someone can guide me. Thanks!
Pallavi, I think it is both tangible and intangible factors. One important thing is to be absolutely objective. Many of us fall in love with our product and end up with staring at a blank wall.