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Maniraj N G

Marketing & Systems ...ย โ€ขย 1y

What is a Revenue Model? A revenue model is the game plan for making money in your business. It outlines how your company generates income through its products, services, or other offerings. In simple terms, itโ€™s the strategy behind your earnings. There are several popular types of revenue models, including: 1๏ธโƒฃ Subscription Model: Think Netflix or Spotify โ€“ recurring revenue. 2๏ธโƒฃ Product Sales: Selling physical or digital products, like e-commerce. 3๏ธโƒฃ Service Fees: Charging for expertise or services, like consulting. 4๏ธโƒฃ Advertising Model: Platforms like YouTube monetize through ads. 5๏ธโƒฃ Freemium Model: Offer a free version and charge for premium features โ€“ hello, Canva! 6๏ธโƒฃ Commission Model: Acting as a middleman and earning a cut, like Uber or Amazon. But hereโ€™s the catch โ€“ your revenue model isnโ€™t just about how you earn; itโ€™s also about how sustainable and scalable that earning is. Why is it Important? It defines how your business survives and thrives.

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