01 Sep '11, 4am

Entrepreneurship 4: Business & Rapid Growth Strategies | Bernard Leong

The difference between business strategy & business model: In any start-up, the founders and their team will work out an overall business strategy, which consists of a series of initiatives or directions in how they will execute. The business model depicts how the company generates revenues to cover the business costs of production, to generate profits for the businesses and attracts investment to grow towards the next stage. In most mobile-web start-ups particularly in the space that relates to consumers, the free-mium model is usually utilized, where the users get to use the service for free (for example, Google search and Facebook), but the monetization comes from a different source (for example, Google Adwords are sold to the advertisers who pays Google and Facebook Credits are sold to consumers to buy credits for online social games). Team must have a buy-in with the ...

Full article: http://www.bernardleong.com/2011/08/31/entrepreneurship-4...

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