If you want to start a startup or a company, then it is important that you adopt a business model for yourself. And after creating this business model, keep going accordingly.
You can also keep auto pilot mode for yourself. In which business will run on its own. And you will keep earning. There are many such business models around the world. On which the world’s biggest companies are running. Which includes big companies like Coca Cola Jio Amazon Flipkart.
Based on this, you too can choose a business model for your company. However it depends on your company and your product which business model applies to your startup or company.
Today we will talk about which are the top business models in the world? Those you can implement with your company or startup. And you can grow your business.
Licensing business model
Nowadays, the most trending model in the world is also the licensee model. In this, you have to license your product to another company. In return, that company will pay you a fixed amount every month. It depends on your product.
We will give you an example here.
Suppose your product is related to some software. And you want to distribute that software worldwide. So for this you can build your distributor network across the world. And can give license to everyone for this. In exchange for this license you get a fixed fee. In this way your business also runs on auto pilot mode.
You do not need to do anything. Your distributor network does everything. And your business keeps growing. As the capacity of your distributor network increases. By the way, your earnings will also increase. In such a situation, you can apply a license model to your business. However, for this it is important that your product should be unique and there should be something special in it so that people can be ready to buy your license.
Hourly business model
This business model may apply to your employees. If your company makes an website, then you can pay your employees per hour.
You can tell them that the more work you do, the more money you will be paid. Because the website does not work every day. They rarely need maintenance. You will benefit from this, you will get better quality work. It will also help in your cost-cutting as well.
Nowadays, many business models are based on this plan. In such a situation, you can implement the hourly business model for yourself. The biggest advantage of this thing is that you can also get your employees work-from-home. And you can have flexible timing according to your need.
It is generally seen that we have permanent employees in our office. Its biggest disadvantage is that we have to pay more. And profitability is low. They also have to give you facilities like pension and insurance. But if you adopt the hourly business model, then you will get rid of all these things.
This model is now becoming popular worldwide. And companies like Google and Amazon are also working on the hourly business model. Although it is big companies. And at some stage only this business model has been implemented. But if this business model is applied in your company then your company is going to benefit a lot. Also, cost cutting is also an excellent way.
Uses base business model
You can also implement the besd business model you use for your company Eye Startup. In this business model you only charge your customer as much money as your customer has used.
Let me give you an example here. Amazon AWS which is a web hosting company. If you host your company’s website on aws hosting there, then you have to pay that much money. The amount of bandwidth and space your website has used. If your website gets more traffic. Then you will get a higher bill. And if there is less traffic on your website then you have to pay less to amazon aws.
You can also apply the same model of business to your company. There are many areas where this business model can apply. There is a lot of business of electricity mobile phone bill and this way where this business model can be applied, the biggest thing about this business model is that the customer is always with you. And the number of satisfied customers remains high.
Franchise based business model
This business model has been around for a long time. And the big companies of the world have adopted the franchise business model.
If you have a unique product. And if you have your own product then you can build a franchise network for yourself. You can take a fixed amount every month from a franchise. Or you can also charge a fix commission for your product. You don’t even have to spend in the franchise business model. And your business also keeps growing. The stronger your franchise is. The higher your profit will be.
One of the biggest features of this business model is that you have to spend very little on marketing. The franchise costs you money. With this, your profit keeps increasing.
However, while giving a franchise, you should also keep in mind the capacity of the front. Do not franchise anyone without capacity. If you give a franchise to someone without thinking, then there is a constant risk of your image getting spoiled. In such a situation, never compromise on quality. There is a good rule for business plan.
Subscription based business model
If you have any of your data. Or there is an object whose subscriptions can implement. So it is beneficial for you in the long term.
In the subscription base model, you charge a fixed amount every month from your customer. And give them access to their business for some time.
We give you an example of Netflix here. If you want to watch new shows and movies on Netflix, then you have to pay a fixed charge to Netflix every month. You can also apply this business model to your startup company.
As your user base grows. Your subscription fees also increase. And your business continues to grow. It is also a type of auto pilot business model. However, for this, you have to generate content continuously. You can set up a franchise to generate content.