Type of Business Models

As we embark on our journey towards Assessment 1, let's solidify our understanding of business models. These models serve as the blueprints for how businesses operate and generate revenue. By exploring various business models, we'll gain insights into how companies create value for their customers and achieve sustainable success. Please follow the activities prepared for this topic.

1)     Watch the video on the Type of Business Model

2)     Research and check the links on the example of the Business Model

3)     Participate in the forum

4)     Learn the Business Model Canvas

5)     Start your Assessment 1

Hey there, creative entrepreneurs! Ever wondered how your brilliant idea can become a thriving business?  It all starts with a roadmap – a plan for success!

Today, we're diving into the world of business models. These are the blueprints that define how your business will operate, create value for customers, and make money.  Think of them as the secret sauce that turns your passion into profit!

Here are some of the Popular Business Models:

Subscription Model: Love the idea of recurring revenue and loyal customers? A subscription model lets you offer tiered access to exclusive content, products, or services – perfect for things like language learning apps, fitness programs, or curated beauty boxes!

Freemium Fun: Want to attract a large user base and showcase your value? The freemium model offers a basic, free service with premium features available for a fee. Think Spotify's free music with ads, or mobile games with limited levels unless you upgrade.

Brick and Mortar Magic: There's something special about a physical store! The brick-and-mortar model allows for direct customer interaction, creating a unique brand experience. It's ideal for retail shops, cafes, or art galleries.

E-commerce Explosion: The online world is booming! The e-commerce model lets you sell products and services directly through your website, reaching a global audience 24/7. It's perfect for anything from handmade crafts to downloadable courses.

Crowdfunding Creativity: Need a financial boost to launch your dream? Crowdfunding platforms connect you with potential investors who believe in your vision. This model works well for innovative products, films, or creative projects.

Now that you've explored these popular business models, it's time to unleash your creative spark!  Consider the unique aspects of your creative venture.  Does it lend itself to a recurring revenue stream through subscriptions or a freemium approach to attract a large user base?

Perhaps a physical storefront would best showcase your products or build brand loyalty, while others might thrive in the global e-commerce marketplace.

The key takeaway?  There's no "one size fits all" answer.  The best business model for your creative venture depends on your specific goals, target audience, and the nature of your product or service.  By understanding these models and how they can translate into success, you're well on your way to turning your brilliant idea into a thriving business!

You can listen to the lecture slide here. Alternatively, you can also download the PDF format later

When the video is playing, you can enlarge it to fullscreen mode by scrolling your mouse to the bottom right of the video and clicking Fullscreen.