When was the last time you gave any thought to your business model? If it has been a while, you likely aren't alone. But here's why it's time to search the folder for that document:
At its core, a business model of any type should represent where and how your company will generate revenue. But it can also help to ensure business operations are on track and marketing strategies are serving overall business goals.
While there has been a lot written about the Internet influencing traditional business models, actual examples of what the impacts have been are not as easily found. Certainly, e-commerce has had a significant impact, but there are other types of online businesses that bring their own twist to some of the traditional business models.
For example, it is easy to identify auctions as business models both online and offline, though bringing the model online has broadened its audience and the range of auctioned goods and services.
A business model that adequately serves your company's revenue goals is a valuable resource for ensuring your website succeeds in meeting your business needs. Here is a look at eight business models, some leaning toward the traditional and others evolving from online use, that are most frequently used by businesses online today.