6 Drivers That Determine Your Revenue Model
One of the first questions a potential investor is going to ask you is, “how do you plan to make money?”. It is critical you have a well-thought plan for the long term, even if revenues will be minimal in the short term. Revenue models can vary based on: (i) your industry; (ii) your product or service within that industry; and (iii) what your direct competitors are doing. And most importantly, you need to assess whether your revenue plan passes the sanity check for your business and prospective investors. What is Typical in Your Industry? Every industry has a certain…
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