A low cost business model can make or break your company. By focusing on a low cost model you are able to create focus and simplification of your company. It is easier to market and sell 1 product or service than it is to focus on a wide variety. When starting a business it is essential to start simply, low cost, and to have the right business model to align with your goals.
How many kinds of businesses are there? How do you know which type of business to start? Are you making the right decision?
This course is designed to go over the different types of business models and give examples of how these models work so that you can choose a business model that will fit with your goals. In some cases you may want to be a distributor or a manufacturer. However in others it may be more advantageous to dropship products to save on startup costs. If you don’t know what each kind of a business model entails it is difficult to ensure that you are making the right decision when setting up your business.
By learning different ways to model your business you are able to pivot or add onto your business with new means of generating revenue. Understanding your options helps you to ensure that you are starting out your business on the right foot.
In this course we will go over a variety of business models. From these we will discuss the advantages of using these models to generate revenue. Learning basic business models for generating revenue gives you more options as you grow your business. We will also discuss the advantages of a simplified approach.
By focusing on a low cost business model approach you can start small with little investment and grow larger while taking advantage of the concept of “little bets”. “Little Bets” is the idea of doing business with small test decisions for proof of concept before rolling out a more expensive solution or idea.
What you’ll learn
- How companies achieve a low cost business model
- What a low cost business model is
- Business models
Who this course is for:
- Business owners