Perhaps, you have heard the term “business models” before and wondered what exactly it meant? A business model is really just a style or type of business operation. It may seem like there is only one way to “do business”–but that is not true, there are definitely all sorts of different ways to set up and operate a business. Many people find that it is easier and makes more sense to adopt an existing, successful, and proven business model than to try to invent one of their own.
In reality, you may already have adopted someone else’s business model in your home business and not even realize it. One of the things that we learn from networking and connecting with other business people is how they operate their businesses. We can learn more about what works and what does not work–without having to go through all that trial and error ourselves. When a person purchases a franchise, they are really committing to an established business model, but you can also start an innovative business “from scratch” and still take advantage of an existing model.
For example, if you are going into the housecleaning or day care business, it would likely be worth your while to investigate existing businesses an see how they are operating. You will be able to see things you like and can implement into your own business, and things that you do not like and choose not to utilize. Chatting with other business owners in your field (or a similar or comparative field) at networking events, a business class, or the chamber of commerce can help you to expose yourself to a variety of business models so that you can learn and borrow from the ones that seem most suited to your home business and your own personal business and working “style.”
See Also: What’s Your Business Style? and Are You Better at Facts or Relationships in Business?