Can Your Business Wear A Bikini?
Our world, or at least this country, seems to be obsessed with size something one sassy "plus-size" woman took to heart, and to the Internet, by brazenly wearing a bikini a testament to her strong self worth. We applaud her for showing the world that the shape you're in is an individual decision. Of course, when your business needs to shape up it's not always readily apparent. It pays to take a step back from time to time and assess the shape your business is in. For instance: Companies and entrepreneurs know they're in business to make money. That part's the no-brainer. But if someone asks, "What's your business model?" you might spend a few moments scratching your head. A business model is simply "a representation of how your organization intends to make money," according to management guru Peter Drucker. To quantify this definition a bit, ask yourself the following questions:
- What problem(s) does my business solve (i.e., Why would a customer buy from me?)
- How will I generate revenue? (What products and/or services am I selling?)
- How do I translate this into a viable venture?