This week in my class (B250 Web Business Creation) we started by learning about different business models, and considered where or not we should focus on choosing a business model first, or a product/service to sell first.
Throughout this week, I had the opportunity to really look at business from the side of the creator and really consider what I would need in order to start a business up. Would it be better or wiser to choose a business model first so that I can know how to approach my business? This would allow for me to already know what kind of advertisement and money-making tactics I would need to enlist/work on, as well as how to focus on demographic and clientele, etc. Or would it be better or wiser to choose a product or service to focus on? This would enable me to know what it is I’m selling, which would allow me to choose the best business model for the product/service.
Ultimately, there were many things to consider, but I chose to focus on determining a product/service before choosing a business model. To me, it made more sense because making that choice first would make it easier to know the easiest and most effective way to create, enhance, and run the business.
Here are some great resource links to non-BYU-Idaho-affiliated websites that we were required to read as part of our work this week:
Along with this, we also had to use to Google Keyword Planner, which was an eye-opening experience. I had no idea (though I should’ve assumed) that there was such a resource on the internet.