How will customers pay for your extra value?
Business Model Canvas
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Module 1 | Building your social business |
Unit 1 | Understanding your ideal customer |
Unit 2 | How do you add value for your customers? |
Unit 3 | How will you get to your customers? |
Unit 4 | How will customers pay for your extra value? |
Unit 5 | What are the key resources, partners and their activities? |
Unit 6 | What are the costs of your business? |
Unit 7 | Making your business sustainable – Creating profits |
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In this video we will look at different methods for generating revenue or money for your business through the sales of your products or services.
Revenue streams or sales refer to how you generate money from your customers. Different customers groups could pay you in different ways. A business has to make a profit so it can sustain itself and grow. Profits are generated through sales. This is why it is a very important part of any business.
4 types of popular revenue streams/sales include:
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Asset sales. This is where you sell a product to a customer who then becomes the owner of that product. This is the most widely used model in business and takes place any time we buy a car, computer or a building.
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Subscription, usage or leasing fee. This refers to when your customers pay to use your product or service. This is used in gyms, hotels, or rent a car businesses.
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Licensing revenue. This is when you give the customers permission to use your intellectual property. This is common in content production and inventions.
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Advertising or brokerage fees. This is money that comes from fees for advertising a particular product, service or brand, or when you introduce a buyer to a seller