What is a business model?

The business model is the foundation of any business. It is the success or the demise of a business idea. It answers the questions of who? what? when? where? why? and how? 

For the person thinking of starting a business, you will want to give much thought to how you structure your business model. When I first started Grant Source, I knew I wanted to eventually work myself out of the day-to-day part of the business, but to still earn full-time income. It took me six years, but I can honestly report that I have arrived! The question is, HOW did I do it???

1. First, I built a strong product (grant writing services) with excellent outcomes ($3 million in grants won).
2. Second, I automated the delivery of that product (hire people to do the work for me and I make a profit off their work).
3. Third, I diversified my product line (workbook, trainings, grant writing, one-on-one consulting) to create multiple ways of earning income.

Do you have an idea that you would like to turn into a Profit-ABLE business? Check out a video I did on business idea brainstorming. After watching, let me know what you think by leaving a comment. Also, if you need assistance bringing your business idea to life, book a Business Modeling Consultation on the Services page of the website.

Here's the link to the video: http://www.youtube.com/watch?v=h2rOrc-cRos