Creating A Sustainable Business Model
Larby Amirouche has been in the industry for many years. He has been known as a trendsetter and a digital marketing expert. Not only that, he has handled many businesses before which is why he knows what are the important things in creating a sustainable business model.
In creating a business model, it should have the 5 items listed below in order to sustain and progress in the fast-paced world of entrepreneurship. Businesses have been very competitive because of technology, innovation, and strategies that were conceptualized through the years. A sustainable business model is what every business owner hopes to gain. The business will turn a profit quickly and stay at the top for a very long time. A business model that prioritizes sustainability is one that, at a minimum, considers all important aspects may it be major or minor.
5 Things to remember in creating a Sustainable Business Model
1. Believe in the business
If the owner does not believe that the business will succeed, then the brand failed before it has started. It may be a simple thing but the psychological impact is very huge. Being optimistic and believing the business will work or succeed is the foundation of any concept for a business.
Not only is the owner liable for this, but also the team that helps the business progress. Even if one employee or department does not believe that the model will work, then it also impacts how the business will start. The owner is responsible for creating a good business environment herein all people are inline with the brand’s goals and objectives.
2. Adapt and conquer
A business model should be able to adapt change and innovation. If a model is specifically made to be consistent and is not able to adapt to trends, then it is destined to fail somewhere in the future. A business should be able to create a window of opportunity to change and adapt to its environment and trends, as nothing is constant in this world. Take Nokia and Blackberry for example, when android was introduced together with iOS, they had a massive collection of applications and games available for download, unluckily for Nokia, they only had Symbian and the app store of Blackberry which has limited apps and games only for their operating system. Because they did not incorporate android, they sunk from being mobile phone pioneers to forgotten brands.
3. Useful for people
In creating a business model, one of the most important things to consider is whether it is useful for people or not. A business which is irrelevant for users will definitely not succeed and will just be another failed business. Reason why business owners think of products and services that can assist or help people to make life easier. People buy products and services they need and want.
4. Harmonious workplace
Even if the business model is custom-tailored to succeed, if harmony is not present within the company or business, it will fail organically. It is very crucial for a business to build a positive and harmonious environment for employees to work on. This will boost morale and can produce happy employees focused on their job, which eventually means more profit for the business.
5.Excel in one area one at a time
An owner should focus on one department to improve. If they choose to improve all areas at the same time, it will be confusing and the main goal to improve will rather degrade the business or impact it negatively. Which is why it is imperative to focus on one area and slowly improve other areas progressively. In this way, the owner can see the progress clearly and work its way to different aspects of the business that needs improvements.
In this fast-paced world, Larby Amirouche understands the things needed to create a sustainable business model to work successfully in this era.
