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How to define Your Business Model

Dear ,

Welcome to a new week!At the core of every startup is a business model that must be profitable enough to ensure success. Most startups begin with bright ideas that are innovative but fail to address realistic concerns of scale, competitive edge, target audience, profitability, and market fit.

The marketplace provides the platform to attract a target market but beyond that attraction, a solid framework is required to take an idea from being just an idea to a profit-generating enterprise. This framework will guide and influence your choice of channels, strategy, and marketing efforts in order to transform your new venture into a success. 

This article highlights a few questions that will enable you determine which framework to adopt for your business. 

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Do have a great week!Stay Safe!Sincerely,Oluchi Johnson-AchibiriCommunity Manager, msmehub.orgFATE Foundation1st Floor, Water Corporation BuildingIjora, Lagos

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