Monday, August 8, 2022
Monday, August 8, 2022
Home Tech Here are Nine Business Models You Can Attempt if You’re Unsure of Where to Start

Here are Nine Business Models You Can Attempt if You’re Unsure of Where to Start

by Shera
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Sometimes coming up with a business idea, or at least a way to generate money can be difficult. You may want to have a unique approach. Maybe you want to look at your options before embarking on making your business happen. Either way, here are nine business model ideas that can give you a push in the right direction.

  1. Affinity Club: Pay Royalities to some large organization for the right to sell your product exclusively to their customers. Example: MBNA
  2. Brokerage: Bring together buyers and sellers, charging a fee per transaction to one or another party. Example: Jumia
  3. Bundling: Package related goods and services together. Example: iPod/iTunes
  4. Crowdsourcing; Get a large group of people to contribute content for free in exchange for access to other people’s content. Example: YouTube
  5. Freemium: Offer basic services for free, charge for premium services. Example: Linkedln.  
  6. Leasing: Rent rather than sell high-margin, high-priced products. Example: Cars
  7. Pay as you Go: Charge for actual metered usage. Example: Electric Companies
  8. Subscription: Charge a subscription fee to gain access to service. Example: Showmax
  9. Product to Service: Rather than sell the product, sell the service that the product performs. Example: Zip Car

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