Why business models matter!

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Why Business Models Matter?

By: Nokwazi Mzobe

A business model is the blueprint of your businesses success and we decided to research and compile quotes from leading entrepreneurs; business leaders, journalist and academics, that show us why business models matter. Here are 8 insightful reasons:

1)      A good business model remains essential to every successful organization, whether it’s a new venture or an established player. (Joan Magretta, Havard Business Review)

2)      Money is available from investors as long as you have a great business model and a talented leader. (Masayoshi Sun, Founder and CEO of Softbank)

3)      We are a mission-driven company. In order to do this, we have to build a great team. And in order to do that, you need people to know they can make a bunch of money. So, we need a business model to make a lot of money. (Mark Zuckerberg, Founder and CEO of Facebook)

4)      The business model is both the starting point and the scorecard for Customer Development progress. (Steve blank, Entrepreneur and Author)

5)      The more you drive positive change, the more enhanced your business model. (Anand Mahindra, Chairman of Mahindra group)

6)      The advent of the Internet exposed the fact that the old business model for newspapers was broken. The world wide web fundamentally changed the media eco-system, challenging established journalistic practice in what is known as the mainstream media: radio, television, newspapers and magazines. (Lionel Barber, Journalist and Editor of the Financial Times)

7)      More and more businesses are seeing the potential of a more sustainable business model, driven both by the firm belief that business can be a force for good and by the realization that the cost of inaction often exceeds the cost of action – notably when it comes to the growing threat of climate change and water scarcity. (Paul Polman, former CEO of Unilever)

8)      Luck is not a business model. (Anthony Bourdain, former celebrity chef, author, and travel documentarian)

Credits:

Source for quotes: https://www.brainyquote.com/topics/business_model

Image: Photo by rawpixel.com from Pexels

 

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