Pros and Cons of Pros and Cons of Business Models Business Models

By Val A. Slastnikov,By Val A. Slastnikov,

Business Models ExpertBusiness Models Expert© 2010 Digitizer Group. All rights reserved© 2010 Digitizer Group. All rights reserved

PART THREEPART THREE(Solutions, (Solutions,

Options, Quiz)Options, Quiz)

Students’ ProblemsStudents’ Problems

STUDENT:STUDENT: I am getting my education, but no I am getting my education, but no one would tell me how I am supposed to succeed one would tell me how I am supposed to succeed in life AFTER I finish my education. Instead, I am in life AFTER I finish my education. Instead, I am left scratching my head about what to do next left scratching my head about what to do next and how to repay the huge amount of debt they and how to repay the huge amount of debt they call a ‘Student Loan”…call a ‘Student Loan”…

SolutionSolution If you are a Student right now, you can continue If you are a Student right now, you can continue

to study. What you can study is Success of to study. What you can study is Success of others, then you can try to do what they are others, then you can try to do what they are doing and some day you may become successful, doing and some day you may become successful, too.too.

Workers’ ProblemsWorkers’ Problems

WORKER:WORKER: After years of struggle, I finally got my job. After years of struggle, I finally got my job. However, no one would tell me how I am supposed to However, no one would tell me how I am supposed to juggle my job and my personal life. Plus, as no jobs are juggle my job and my personal life. Plus, as no jobs are secure these days, I constantly have to improve my secure these days, I constantly have to improve my skills and look for another job all the time. When I skills and look for another job all the time. When I work, I have money, but I don’t have time. When I am work, I have money, but I don’t have time. When I am looking for work, I have enough time, but no money.looking for work, I have enough time, but no money.

SolutionSolution If you are a Worker, you have to understand why If you are a Worker, you have to understand why

you are working and how you can ultimately you are working and how you can ultimately become more successful by working smarter – become more successful by working smarter – not harder. not harder.

Business owners’ Business owners’ ProblemsProblems

BUSINESS OWNER:BUSINESS OWNER: I managed to scrape up I managed to scrape up some money and start my own business. At least, some money and start my own business. At least,

I don’t have to report to anyone except my I don’t have to report to anyone except my wife/husband/business partner or government. wife/husband/business partner or government.

However, I work harder than before, I work However, I work harder than before, I work longer hours, I am responsible for everything – longer hours, I am responsible for everything – from start to finish. And the profits are nowhere from start to finish. And the profits are nowhere

near to what I expected! This is not how I near to what I expected! This is not how I imagined a life of a Business owner!imagined a life of a Business owner!

SolutionSolution

If you are a Business man or a Business woman, If you are a Business man or a Business woman, you have to re-evaluate why you decided to own you have to re-evaluate why you decided to own your own business in the first place, and how you your own business in the first place, and how you are progressing towards Success.are progressing towards Success.

Retirees’ ProblemsRetirees’ Problems

RETIREE:RETIREE: After years and years of hard work I After years and years of hard work I finally managed to retire and decided to devote all finally managed to retire and decided to devote all my time to my family, my kids and my grandchildren. my time to my family, my kids and my grandchildren. I started to travel and spend more time with my I started to travel and spend more time with my friends, who are also retired, for the most part. But I friends, who are also retired, for the most part. But I got bored very fast – and found out that I want to get got bored very fast – and found out that I want to get back to work, or do some other activities! What a back to work, or do some other activities! What a disappointment! I thought that retirement would disappointment! I thought that retirement would bring me joy and happiness, but it only brought me a bring me joy and happiness, but it only brought me a feeling of loneliness and boredom…I don’t like it at feeling of loneliness and boredom…I don’t like it at all and I want to be active again!all and I want to be active again!

SolutionSolution If you have already Retired, maybe Success will If you have already Retired, maybe Success will

not mean that much to you anymore, as you have not mean that much to you anymore, as you have probably already achieved it and retired as a probably already achieved it and retired as a result of having that Success, right? Even still, result of having that Success, right? Even still, you may just like that feeling of accomplishment, you may just like that feeling of accomplishment, and you would love to achieve Success all over and you would love to achieve Success all over again.again.

Success OptionsSuccess Options

My Success Options:My Success Options:

I wanted to improve my skills and help I wanted to improve my skills and help businesses improve their Business Models.businesses improve their Business Models.

WHY?WHY?

Because I wanted to gain moreBecause I wanted to gain more

FREEDOMFREEDOM

My Plan of ActionMy Plan of Action Invest in myself:Invest in myself:

Self-Education Self-Education ‘ ‘On the job’ TrainingOn the job’ Training

Gain ExperienceGain ExperienceBecome an ExpertBecome an Expert

Create Value:Create Value:

ConsultingConsultingCreative WritingCreative Writing

Joint VenturesJoint VenturesStrategic AlliancesStrategic Alliances

The Sum of EffortsThe Sum of Efforts

More Efforts =More Efforts =

More Value = More Money = More Value = More Money = More Time More Time

=> MORE FREEDOM=> MORE FREEDOM

What are YOUR Success What are YOUR Success Options?Options?

Is starting a Business a Is starting a Business a Success Option for you?Success Option for you?

Take a Biz QuizTake a Biz Quiz Analyze Business ModelsAnalyze Business Models Decide what model to followDecide what model to follow

Biz Quiz Biz Quiz

1)  How Much is 1 + 1?1)  How Much is 1 + 1?

a) 2a) 2 b) 3b) 3 c) 10c) 10 d) 100d) 100 e) Many, if you use Power of Leverage e) Many, if you use Power of Leverage 

Biz QuizBiz Quiz

2)  What do you need to start a 2)  What do you need to start a successful business?successful business?

a) Experiencea) Experience b) Desire to Succeedb) Desire to Succeed c) Visionc) Vision d) Business Pland) Business Plan e) All of the above e) All of the above 

Biz QuizBiz Quiz

3)  What is more important for your 3)  What is more important for your business success?business success?

a) Knowing your Marketa) Knowing your Market b) Having a Business Planb) Having a Business Plan c) Having a great Offerc) Having a great Offer d) Having great Marketing Toolsd) Having great Marketing Tools e) All of the above e) All of the above 

Biz QuizBiz Quiz

4)  What Business Model is the most 4)  What Business Model is the most successful?successful?

a) Self-employed a) Self-employed b) Affiliate b) Affiliate c) Franchisee c) Franchisee d) Employee d) Employee e) Business Owner or Investor e) Business Owner or Investor

Biz QuizBiz Quiz

5)  What is the best business strategy?5)  What is the best business strategy?

a) Get a Business Loan a) Get a Business Loan b) Do it yourself b) Do it yourself c) Hire someone to do it c) Hire someone to do it d) Ask an Expert to tell you how to do it d) Ask an Expert to tell you how to do it e) Create a Joint Venture with an Expert e) Create a Joint Venture with an Expert

The Best Answer is…The Best Answer is…

e)e)

If you chose this answer – If you chose this answer –

CONGRATULATIONS!!!CONGRATULATIONS!!!

Where do you go from Where do you go from here?here?

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PART FOUR