I am in the process of creating an Internet Business. Of course, my goal is for it to be successful. As with any of the companies in the development stage, the first thing we need to do is develop a business model. The reason we need to do this first is that it describes how the company is my money. After developing the model, I will have a map of what I need to do to be profitable. Develop a business model is critical. Because I am in the process of developing my own model, I thought that could be beneficial for other internet entrepreneurs if we work together throughout the process.
One of the best business models in general that already runs across the BI Triangle, developed by Robert Kiyosaki with Sharon Lechter, introduced in "Rich Dad's Guide to Investing," and explained very clearly in "Rich Dad's Before leaving your Job. " I highly recommend that every entrepreneur should read "Before you leave your job," even if you already quit. The reason for the BI Triangle is a good business model is such that the authors present a model of a very elegant, yet simple graphics that is easy to understand and remember. The model has five jobs that are necessary for success. These five jobs from a company are held together in a framework of a successful business.
The five jobs are product, legal, communications systems, and cash flow. The framework for holding together the five jobs are Mission, Leadership, and the team. Each of these aspects of your business needs to be fully developed to create a real business success.
The rest of this article sets out briefly the aspects of the BI Triangle, in general terms, to set the stage for future articles. First are listed the five jobs in this business model. They are:
- Any product you are offering your customers.
Legal - Includes multiple aspects of its business, starting with the right entity structure for your business. You also need to remember other aspects of its business requires legal support, but also including copyright, partnerships, licensing, etc., just to name a few.
Systems - Business structure needed to support its business.
Communications - needed to reach their customers. Also necessary for partners, investors, employees, suppliers and other people involved, even superficially, with his business venture.
Cash flow - The meat of the matter. Without positive cash flow your business will collapse.
The table that holds all your business is to all of Mission, Leadership, and the team.
Mission - The real purpose of your business
Team - People who support the goal of their company and the jobs needed for success.
Leadership - Multiple jobs including defining the mission of the company, creating the team, keeping the company strong, growing the company, etc.
This article is the first of a series of nine articles designed to work through the eight aspects of the business model as they relate to creating a successful Internet business. I am writing these articles to help me develop my business model. Let's work together and by the end of the series of articles, which will both develop a model for many years of business success.
