Difference between business model and revenue model
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In this video I explain the difference between a revenue model and a business model. I also explain how you can think about creating a business model that works for your unique business, and how well your business model incorporates effective revenue models and revenue strams. I also explain how to manage one or more revenue models in your business model.
A business model is the entire model of your business. So a business model takes into account your product, the costs to create and distribute the product, how you get revenue from the product, and all the details that make up your business.
A revenue model is just how you bring in revenue. So a business model can have one or more revenue models inside it.
Here is an article that explains business models and revenue models in more detail:
http://problemio.com/business/busines...
The term business model is a widely used term. But it is also a widely mis-understood term. In fact, many people use the terms revenue model and business model interchangeably. But that would be a mistake. A business model is your overall scheme for how every part of your business will function. And a revenue model or a revenue stream, is just one of the ways that revenue will come into the business.
About your revenue model, a business can have zero or more revenue models. Most of the time, no matter how many total revenue models there are, a successful business usually has one great revenue model that trumps all its other revenue models. Once that great revenue model begins truly working well, you can shift the components of the business model to best support that great revenue model.
Also, check out my business book on understanding the difference between a revenue model and a business model, and general business planning:
http://www.amazon.com/Get-Business-Id...
Here is my course on starting and planning a business:
https://www.udemy.com/how-to-start-a-...
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