At the core of every successful company is a strong business model.
Your business model is the blueprint for how your business will make money (or not). But for many companies starting out, not enough time or effort is put into identifying the right business model for their business.
This can turn out to be a very costly mistake.
In a study by CB Insights on the top reasons why startups fail, a top ten reason (coming in at #7) is going to market with a product without a business model.
It doesn’t have to be this way.
Designing the right business model for your company, product and goals are very much in your control. From our experience working with fast-growing startups to global corporations, we cover core elements to building a successful business model.
To read the full article on HelloAdvisr, visit here.
Ed Lee is a pricing and go-to-market specialist and trusted adviser to leading companies and brands. He is the founder of HelloAdvisr, a Los Angeles-based growth consultancy helping companies and leadership teams build and implement profit growth strategies.
Ed specializes in international and national marketing and pricing strategies, discount optimization, and salesforce management across retail/ecommerce, marketplace and platform businesses. Previously, Ed held leadership roles with LG Electronics and Simon-Kucher & Partners, a global management consulting firm and world’s leading expert in pricing.
Ed is regularly invited to speak on pricing strategy at leading universities and institutions including the University of Southern California (USC), UC San Diego and General Assembly as well as startup/tech organizations such as LA Cleantech Incubator (LACI) and Wayra (London, UK). Ed received an MBA from Oxford University, MSc from the London School of Economics and a BA from the UC, San Diego.