How to Create the Right Business Model

The quick answer is simply found in the 4 components of each stage of building a business.

Analysts and others speak about the life cycles or stages of organisations but leave out components within these established stages. At the very best their explanations are complex and difficult to understand.

In reality it is not the life cycles that we should concentrate on but the components of the right business model that will make it successful.

A great business model can only be designed after one has identified the components in each stage. This will then allow a successful business to be built quickly and profitably.

The four Stages are:
1. Preparation
2. Creation
3. Implementation
4. Evaluation.

These stages are made up of components that make them work and flow into the next stage in harmony. Let me give you an idea of what I mean.

I specialise in the second stage, 'creation' and it's components. This is where I set up the strategy for a real business model off line supported with an online back end.

I set up a foolproof strategy I call the ABC's of Success. You do it this way because it provides a duplicable system that is way to follow, which are:

(A) Attract future customers. There are three components to do this:

1. First component is finding the products

Your own - don't use that just yet, save it until you get some experience in an Internet business. It's not as easy to do as some make out.

Pick the best - There are thousands of products available. Pick one you have some experience with, or have a natural affection with.
Set up - affiliate programs, links to other sites.

That's all at this stage of you setting up your business. Lets move to the next component.

2. The second component is setting up business to find leads (based around your product)

Website, blogs - You will need a blog if you don't have a web site. You don't need a web site to start off but maybe you will need one down the track.

Write articles about your product and expertise and put over the Internet - Get to work start-writing articles on topics that suit your product, you're expertise, your interests. Alternatively if you don't have a product that suits you search what is popular on the net and follow that trend.

Subscribe to lists - Find ideas, search for help, but get hold of either lists or generate your own list.

That's enough on the second component lets move to the third.

(B) Bag and capture potential customers - there are also three components to this.

1. The first is setting up systems to secure leads - there are two ways to do this on line or off line.

On line you use auto responder systems - that's where you give visitors to your site or blog a free purchase for subscribing to your eNews.

Off line is where you use newsletters, competitions, give a ways - this can also be used on line very well.

2. The second is building relationships with prospects

Provide good content regularly
Give them freebies and give-aways

3. Third is finding your niche through surveys and research

Ask your prospects what they want
Ask them what questions they want answered

(C) Cash in and profit from the sales made to customers - again there are also three components to C.

1. First by promoting products to customers

Write letters educating and promoting your products to subscribers
Off line use the telephone for sales
Keep creating more information products that have real content

2. Second by providing subscribers/customers with proper back end support

Keep up the content and offer low cost items
Some will want more so give them the big cost items
Coaching, one on one

3. Third finding ways to give more than you receive

Offer extended products - products that give more detail and structure
Offer related products - products that will assist your subscribers from outside your business

Find exceptional deals for your people

The other stages and their components are not applicable for me, as I don't work in these areas generally. I will work on a one on one basis if the person is in an off line business and serious about growing it.