In this section, you should list down all the key activities you need to do to make your business model work. These key activities should focus on fulfilling its value proposition, reaching customer segments and maintaining customer relationships, and generating revenue.
What is the business model? Simply, a business model describes how a company works to achieve its goals. It describes how the company creates value (product), how it provides value to the customer, and how the company generates profit. In the 1990s, the term ‘business model’ became a common term in business.
Your business model comes after you define what your company is trying to do. Certain models will match up with your goals and values, and some won’t. If you start a diamond shop but try to implement a freemium model, there’s essentially no way you’ll succeed. Pick a model that complements your mission and the way you want to accomplish it. 2.