These Entrepreneurs Discovered Business Models that Work for Them and Their Ventures
While starting a business is extremely hard, what comes next is much more difficult. Just like any budding entrepreneurs, you need to find the right model for your baby.
The truth is that there’s not one that fits all types of ventures, so you need to figure out which one works for you and which doesn’t. Plus, it’s good to be different because maybe that’s how you’ll know what’s right for you and your plans. Take it from these people who veered away from traditional means:
Leadership coach Amelia Kruse narrated how from the get-go, she already knew that the career she was about to choose would be the one for her.
Knowing that this will be the core of her growth, she built a business model that would be sustainable for her – after all, was she not in for the long haul? She explained that she carefully made a plan based on her life and the foundations of it.
She specifically looked deeper within herself, reflecting on her values, seeing the meaning of her passion and practice, and finding out the reason she chose to become a coach.
In short, Amelia initially asked the philosophical questions rather than the common problem of entrepreneurs: how much do I need to put up a business? The financial and logistic matters only came after she answered the queries about her profession.
She further noted how everything followed easily after laying down her foundation. Amelia stressed that she’s unshakeable because of this.
Just like Amelia, Bird + Stone founder Elana Reinholtz already knew what she wanted to happen: to help other people. Her mind wasn’t just set on earning ample money, but she was also keen on giving proceeds to nonprofit organizations.
However, no matter how beautiful her desire is, she admitted that it wasn’t easy at the start. She found it hard to secure funding because as per one investor, you cannot mix business with philanthropy.
Had she listened to the naysayer, she wouldn’t have created a change. As such, Elana suggests sticking with your instincts and shush away people who say otherwise. Always note that when someone gives you advice, check if they’ve been in the same situation as yours.
From the Past
If you are starting anew after a failed business, then let that be the learning curve for you. subko&co founder Marta Subko did the same thing and even came up with a business model that was influenced by her first idea. Because her first venture failed, she was facing debts.
So what she had in mind is to find an approach that would generate enough money to pay the debts, make a way to operate without funding, and ensure that she runs it.
She had a brilliant idea: why not start a marketing agency in France where she studied? After all, Marta already knows about the culture. While it’s not the same as her first start-up, a marketing agency is perfect for her because it serves as a driving force.
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