There can be confusion about what a business model is. So the most important thing to remember is that your business model outlines how you plan to create, deliver and capture value.

Why does that matter? Suppose you don't understand how your business plans to create, deliver and capture value. In that case, you'll have a tough time building a successful business.

The four big questions a business model needs to answer are:

1. Who will buy the company's product or service?
2. What is the company going to sell?
3. How will the company connect its products with its customers
4. Will the company make money (or how will it make money)?

The best way that we found two outline your business model is to create a business model canvas like the one below. The business model canvas was developed by strategyzer. Check out some of their resources to learn more about mastering the business model canvas.  

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You will create multiple business models throughout the process of testing, Launching, and growing your business. The business model canvas is a helpful visual way to get a birds-eye view of your business. It will also be a simple way to track the changes in your business model over time. You can draw your own business model canvas or download this template. 

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