A business is a value generating and delivering machine.
A business model is the rationale behind its operation. It’s a blue print of the business strategy execution process based on insight given by SWOT analysis.
We at MEROPS build business models which can further be used to describe organisation structure, business processes and systems to be implemented.
In developing a business model we arrive at some of the basic inputs which are useful for defining -
a. Activities to be carried out,
b. Resources Needed,
c. Target Customer Segments,
d. Value Propositions,
e. Channels and
f. Phase-wise Annual Budget.
Business model study carried out by MEROPS also, suggests whether it is a mass market or niche market to be targeted and the basic product or service deliverables design.
There are 3 basic types businesses –
1. Customer relationship businesses (many services comes under this category),
2. Product Innovation Business and
3. Infrastructure Business.
There are always new business models that come up and force the old ones to re-invent.
The business model created with us after studying many more parameters in detail will enable you to draft your business proposal (May it be for a VC funding meetings or a bank loan approval) more confidently and with better chances of getting through.