Business models are developed by visualizing all of the "working parts" that make up a business. A traditional business plan, on the other hand, is most often a formal, written document that provides details about how an entrepreneur intends the business to operate.
Learning to develop a sound business model helps ensure that everything that is critical to the success of the business is in place and working in harmony.
Developing the business model depends fundamentally on engaging real customers very early in the creation of the business so we have a better chance of offering what the market really wants.
To read the full, original article click on this link: 'Pivoting' the business model: flexibility is key - CSMonitor.com
Author:Dr, Jeffrey R. Cornwall
