By: Daniela Ruiz
The successful performance of a new company depends on many factors, among them the design of the product or service, the structural costs and expenses, definition of a financial plan, the structure and competitive climate of the industry, the characteristics of the entrepreneur, and the definition of a business model and strategies to be followed. This article will focus on the importance of defining a business model for value creation and the relationship that model has with the development of the company’s strategies.
Normally, entrepreneurs limit themselves to preparing a business plan. In recent years, however, the concept of business model has become increasingly popular. The emergence of innovative ways of doing business has forced entrepreneurs to reflect more deeply on the design of an innovative and sustainable model that will generate value for their customers, society and their investors.