So, you’ve got a big idea for a business and you’ve started researching the market you want to approach. What’s next? How do we take this seed of an idea and nurture it into a credible business? That’s what we’ll tackle in this article where we begin refining your idea into something that can make money. There’s more to starting a business than just coming up with a product or service you can sell. The way you approach generating revenue from your business idea will have different ramifications on the structure of your business and the costs that come with it. Your ‘business model’ is a description of the approach you choose. Finding the right business model, a business model that can make a profit deserves careful attention and is a key component to launching a successful startup.
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