Arguably, the most important aspect of a business plan is a sound business model. There are several definitions of a business model, but they all answer the same basic questions
- How does the company generate value?
- How is the company compensated for that value?
- Who needs the value that company provides (target)?
- How does the company reach the target, and convince them to buy?
- How does the company deliver its value to the buyer?
- How do they keep them coming back?
- Can the company perform these tasks at a profit?