Choosing the Right Business Model
Warning: This is a rant post about choosing the right business model.
I dare you to keep reading. No really. Keep reading.
This rant has been a long time coming.
It’s about how some entrepreneurs shame people into choosing the wrong business model.
There is no one size fits all business model!
Let me explain.
My, now infamous, rant started after reading a series of Facebook posts. They were from well-meaning, high-level entrepreneurs promoting their brand of starting and building a business. The advice they gave felt similar to peer pressure. In fact, the advice was downright confusing.
Imagine the confusion entrepreneurs must feel when different business owners claim their business model is the best one.
Because of this wrong advice, I have noticed entrepreneurs struggle with the business models they have chosen. This struggle is because there is a flaw in how entrepreneurs chose a business model.
There is no ONE business model that is best for every entrepreneur.
The reason entrepreneurs require different business models:
Gifts and Talents
Experiences and Skills
Access to Capital
I have analyzed many entrepreneurs. I noticed a certain kind of entrepreneurs who excel at growing a company into a large corporation. The other entrepreneurs need to find different business models that are profitable and fulfilling.
For example, some people don’t have the physical or mental energy or experience to handle a large company.
Examples: Stay at home parents, introverts, senior adults, younger adults.
Some people don’t have the patience to work at home or from the beach. These entrepreneurs wouldn’t have a team to interact with.
Also, there are people who don’t like running a business they are not passionate about. Selling widgets just to sell widgets lacks meaning to them.
The Real Reason You Aren’t Happy With Your Business Model
If you are unhappy with your business, maybe, just maybe, the reason is you listened to someone else’s dream of a great business.
You are the creator of your life and your business. Because you are the creator, when it comes to your business, no one knows what you value more than you do.
Your life is just as important as everyone else’s. Don’t fall for the hype. You don’t need to conform yourself to a certain business model.
Let’s stop business failures in its tracks. Here are a few ways to start:
✔️ Know your values and how they are important to you.
✔️ Learn what you want out of your business.
✔️ Dream about the way you want to live your life.
Please. Don’t feel guilty about choosing a business that fits your values, your personality, and your energy levels.
There really are different business models to fit each entrepreneur. Customize yours.