Find a Business Model That Works for Your Startup
My newsletter is a start-up. All startups need a business plan and my business is no different. I spent way too much time thinking about the business model. I spent too much time thinking about what would be the perfect business model. I spent too much time thinking about how I can have the ultimate business model. What I ended up learning was how business models work.
A startup is an organization in search of a business model.
Let’s take a look at Amazon, one of the most famous start-ups ever. Amazon, their first business model was selling books over the internet. Over time they expanded their business model and made a lot of money selling everything. Even though Amazon started in retail, today retail is not Amazon’s main business. What drives Amazon's profit today is AWS, the company's cloud service. As the world changed, so did Amazon and its business model.
A startup is an organization that’s looking for a sustainable business model. As your business changes and grows your business model will change and grow with it. After that realization, instead of looking for what I thought was going to be the right business model for my business. I looked for what was the right business model for my business right now.
The best business model for your startup is the model that works right now. My job as a founder is to look at my start-up as a constantly growing and changing organization in search of a sustainable business model, whatever that leads me.