Definition of Business model:
Description of means and methods a firm employs to earn the revenue projected in its plans. It views the business as a system and answers the question, How are we going to make money to survive and grow?.
A design for the successful operation of a business, identifying revenue sources, customer base, products, and details of financing.
How to use Business model in a sentence?
- When starting a new business, it is important to have a solid plan for your business model and some examples of other businesses that have succeeded with a similar model.
- Obtaining a business loan can be a difficult task, especially if you have a low credit score, so it is important to have a clear business model to present.
- The business model that the restaurant I run uses, is one of high customer volume and turning over the tables as quickly as possible.
- Many of the free sites have either shifted their business model or have gone out of business completely.
Meaning of Business model & Business model Definition