![]() A primary component of the business model is the value proposition. Business plans help investors evaluate companies that interest them.Ī business model is a high-level plan for profitably operating a business in a specific marketplace. Established businesses should regularly update their business plans or they’ll fail to anticipate trends and challenges ahead. They help new, developing companies attract investment, recruit talent, and motivate management and staff. Business models are important for both new and established businesses. ![]() ![]() It identifies the products or services the business plans to sell, its identified target market, and any anticipated expenses. The term business model refers to a company’s plan for making a profit.
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