Business model required?

[iceyblitz]

Ill keep this short. I want to make a startup business.

Is a business model required?

What is a business model?

When is it good to use when is it not good to use?

Why do people use them?

Basically anything i need to know about a business model.

I would highly appriciate it if someone has the answers to these questions.

 

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[MJ DeMarco]

Is a business model required?

Do you expect and desire to make a profit?

If not, then no, a business model is not required.

 

[Kak]

Dude, you are slacking and you haven't even started yet...

This is like asking about starting a business without a concept.

 

[AllenCrawley]

Without a business model you have no business. You have a hobby.

Business Model:
"a design for the successful operation of a business, identifying revenue sources, customer base, products, and details of financing."

Maybe you meant a business plan?

 

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[AllenCrawley]

BTW, "Business Model Generation" is a book I highly recommend.

 

[smoove001]

I don't wanna sound rude. But man you need start googling stuff you don't know, get into the habit of searching things you don't understand, coming here and asking these kinds of question is not optimal.
Watch this video to get an idea and read the book that @AllenCrawley suggested " Business model generation"

 

[Kak]

I don't wanna sound rude. But man you need start googling stuff you don't know, get into the habit of searching things you don't understand, coming here and asking these kinds of question is not optimal.
Watch this video to get an idea and read the book that @AllenCrawley suggested " Business model generation"

Good post. There has never yet in my life been something I didn't know how to do that I wasn't willing to simply look up...

 

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[biophase]

I really think the OP meant business plan.

 

[liljmoneyswag]

Yea, what everyone else said. I think op meant meant business plan. When starting i don't think having a business plan is required. But more importantly focus on getting your first sale, after that get another sale and another one!

 

[TonyStark]

My business plan is anything that leads me to my next sale/customer.

 

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[iceyblitz]

Firstly i want to apologize for not making clear my question and why i asked it.

Look the whole situation is:

I am just a regular guy (20 years) who had an idea.
I tried to first educate myself with books before jumping in the past year. I read the fastlane millionaire a while ago.

I have come to the point where i wanted to progress in making the idea come true.
I had no idea where to begin.
Eventhough i knew i had to sacrifice big to make it big. I had to process and embrace the process.

I did all the mindsetting in the first year ( since october 2015). Now i actually want to execute and dive in.

Then i found out i had to validate my idea first to the market and research that if people are intrested before putting in the money and energy..

Then i came across the book ' the lean startup '.
And it talks about business models etc..

And i hear alot on this forum that a business plan is BS also in MJs book. So i wonderd how about a business model? To me it sounded like some school education BS..

 

[iceyblitz]

Dude, you are slacking and you haven't even started yet...

This is like asking about starting a business without a concept.

Excuse me for my stupidity

 

[iceyblitz]

BTW, "Business Model Generation" is a book I highly recommend.

Thanks alot for giving me another trail!

 

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[iceyblitz]

Without a business model you have no business. You have a hobby.

Business Model:
"a design for the successful operation of a business, identifying revenue sources, customer base, products, and details of financing."

Maybe you meant a business plan?

So actually a business model is the first thing you need before starting s business?

 

[Harti]

These are questions you can literally copy & paste into Google and instantly find the answers.

What are you going to do when a situation comes up that isn't answered by the text books?

A big part of entrepreneurship is the ability to solve problems. In the beginning, when you have no money, you need to solve most problems alone. Later you can outsource it.

So if you really want to be successful with this "business thing," you should first make a serious effort to solve your problems on your own before you're using the "FLF cheatcode."

This will be a win-win situation because:

a) You're learning skills that you can help other people here out with
and b) You're not abusing useful, limited resources

I don't want to know how many people who wanted to help read your topic and then said "enough FLF for this day."

At least this was my impulse

Best.

 

[MidwestLandlord]

And it talks about business models etc..

So actually a business model is the first thing you need before starting s business?

Don't get stuck on "the rules"

Because there really aren't any "rules", not in the way academia would have you believe anyway.

"You have to have a business plan!"

Really? Does the one I scribbled down on the back of a Christmas card count? Because that's the one I'm working off of lol.

The only time I've ever had a "formal" business plan is when I needed financing and when it was required by my franchiser.

"Provide value and sell the shit out of it" <----my business plan

(of course take educated risks and all that, but don't get bogged down in the formalities of textbook ways of thinking)

Edit:

My comment here is for a biz plan. If you really meant model than see @JScott 's post above. A model I can't do business without.

 

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