What is a Business Model?

I kept on asking my friends with Business background what a business model is, I got so many explanations on this issue, I then began to search the Internet for Answer and that was when I came across this definition that says:
"A business model describes the mechanisms of how an organisation or company creates value and derive revenue." In other words, it represents how an organisation makes or intends to make money.
In the course of my research, I found Alex Osterwalder and ended up buying his book "Business Model Generation" which I read cover to cover. They also have a Business Model iPad App which I believe will help alot in developing an organisation's Business Model. You can read Alex's Blog [Here]. You can also view and download so many of Alex's Presentations from Slideshare.


Business Model Toolbox from Alex Osterwalder on Vimeo.
For those thinking of venturing into Business, Remember the first step is not the BUSINESS PLAN, its the BUSINESS MODEL, From the business model you will come up with an award winning Business Plan.

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