Think back to when you started your business, or to the questions that crossed your mind when you started thinking about going into business for yourself. You probably had a good idea of the product or service that you wanted to offer and how much you were going to make from the onset. You probably had your mind on the money, without paying too much attention to just how that money was going to be made. That is where a business model proves to be invaluable. It is a clear statement of how your business operates in the economic and social context, in order to turn a profit. This forms an integral part of your overall business strategy, and should form the basic description of how your business creates, delivers, and captures value in the context of the economic, social, and cultural environment in which it operates. This book explains all you need to know on business model development.
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- Tony Lane