Business Models For Dummies
Book image
Explore Book Buy On Amazon

If your current business model is no longer effective, it's time to make some changes. When you're designing or re-designing your business model, keep these questions in mind:

  • Does the model generate margins superior to the competition?

  • How easily can your idea be copied?

  • What can you do to slow down the competition?

  • What happens if a larger competitor copies your idea?

  • Are you aiming for non-consumers or to have existing customers of a competitor switch to your brand? A is easier than B.

  • How will you get the product into consumer's hands, and how easy will it be to get consumers to pay for it? Think about Twitter and other great products that couldn't monetize the offering.

  • How will changes in buying habits, trends, interest rates, increasing competition, and the general economy affect your model?

About This Article

This article is from the book:

About the book author:

Jim Muehlhausen is the founder and President of the Business Model Institute as well as consultant and speaker to businesses large and small. He is the author of The 51 Fatal Business Errors and How to Avoid Them and a frequent contributor to Entrepreneur, Businessweek, and dozens of other publications.

This article can be found in the category: