Start with a business model

When an entrepreneur is considering creating a project, he must think about the business model he is going to have, that component is what will turn the project into a business project.

When an entrepreneur is considering creating a project, he must think about the business model he is going to have, that component is what will turn the project into a business project. It seems obvious that an entrepreneur cares about how he is going to earn money, but reality shows that this is not always the case. This is something that happens more to less experienced entrepreneurs, and in general it is something that must be considered from the early stages of developing an idea. If enough focus is not placed on this, it is because it is done on the product or service to be carried out, and the fact is that the construction part of something is exciting, it is generally closely linked to an entrepreneur's skill or area of knowledge and therefore a lot is involved in this issue. The phase of developing an idea and converting it to a reality is undoubtedly exciting and one of the attractions of entrepreneurship, not without difficulties, it is a process that depends heavily on the entrepreneur and his team, on topics that he knows and that he can keep under control. It will then be the potential customers who assess whether that work is well done or not. But in addition to building the product or service, the entrepreneur has to think of the business model as the key to what he is creating. It is true that there are cases in which this model was not very clear initially (the case of social networks is always used) but that is only valid for a few projects, which also require a lot of initial unpaid work and therefore, most likely investment. Investment difficult to obtain if we do not know how we are going to generate income to return it. We can find different business models: direct payment for products, consulting or payment for working hours, advertising, promotion or affiliation (commission for sales), sponsorships, freemium or payment models... this will depend on the sector, market situation and specific objectives of the project. Therefore, we must remind all entrepreneurs that if they are going to set up a business think like such, don't worry so much about the development part as about the one that it will lead them to sell and to earn income.