A company's key resources allow it to create and deliver its value proposition, reach its target market and maintain a quality customer relationship with them so that the business can earn revenue. For a company to produce a product or service, it needs access to physical resources, intellectual resources, human resources, and financial resources.
When it comes to defining your revenue streams, especially when you are developing a business model canvas, there are many factors that you need to consider that affect your potential income source. Will you use a fixed or dynamic pricing mechanism, and is your revenue based on transactional and reoccurring sources of revenue?
Guest post by: Christopher Ryan CEO or Fusion Marketing Partners and Center for Business Modeling. Chris is a SCORE colleague and a marketing and sales maven. We are super fans of each others work. The following post was published by Chris on his blog in September of 2016 and is chock full of valuable advice. […]
Niche vs General Marketing: What’s the Difference? Business 2 Community By: Jessica Mehring Let me ask you a serious question. Do you want to compete with Walmart? My guess is no. Not many businesses try to compete with Walmart. Walmart stores have everything under the sun, for every kind of person … at the lowest […]
While the underlining ability to write content that people want to buy is the same for both the magazine and the book publisher, the design considerations mirror many of the same issues entrepreneurs go through when they try to define their business and economic models.
Ignore the status quo and don’t build a better mousetrap. Stop focusing on what your competitors do. Instead, challenge orthodoxies. To do so, start with any of the nine business model building blocks and build outwards. While we typically start with customer segments to build a customer-driven business model, there are four common starting points. […]
Pricing mechanisms come in two principal forms: fixed and dynamic. Fixed pricing has predefined prices based on a static set of variables while dynamic pricing changes prices based on market conditions. Price mechanisms can affect both your revenue stream as well as your costs. When it comes to defining a business’s pricing mechanism, I find […]
When it comes revenue streams, they are generally either “transactional,” resulting from a one-time payment, or “recurring,” resulting from ongoing payments that deliver value or provide post-sales support. When it comes to defining a business’s revenue streams, I find it helpful to consider a list of different types of revenue streams to guide me and […]
The Business Model Canvas is a strategic management and lean start-up template that a business can use when developing new or documenting existing business models. Basically, it is a visual representation that describes the nine critical elements of a firm's product or service offerings.
When I grew up in Massachusetts, I remember reading a story about Joe Kennedy. He would go up to owners of older drafty apartments in downtown Boston and make them a unique proposition. Many of the units were poorly insulated and cost a small fortune to heat in the winter. Joe would agree to insulate […]