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MenuConfused with business model with commission during transactions OR advertisements? Any stats about survival with advertisements.
Planning to solve problems between taxis and passengers for india. But, some illegal things involved as per law.
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The business model should (in most cases) adapt to your product. No the other way around.
I wrote two examples of how companies should adapt their monetization strategy to what their customers actually want the product to do, and not the other way around.
You can read them here:
https://medium.com/@JDcarlu/mattermark-for-everyone-b9d92e6a8831
https://medium.com/@JDcarlu/on-medium-images-b3941a97ba94
Hope it helps explains what I mentioned before
The header of your query reflects problem around monetization model than business model. The descriptive content, ironically, is reflective of modus-operandi and legality of the same.
If I may ask, what is it that's becoming illegal in Indian context?
India has been hit badly by the pandemic.
The key message is that law enforcers and regulators have a heightened interest in all communications to consumers during a national emergency, a time when millions of people are unemployed and vulnerable to deceptive or unfair business practices. When a defining cultural event occurs such as the COVID-19 pandemic, it is critical for brands to be tactful, employ mindful marketing and be empathetic to consumers' plight. Brands must acknowledge the crisis while continuously reflecting positive values that will keep consumers coming back for more. This can be accomplished through adjusting marketing campaign and scheduled content timelines, evaluating the language and imagery used in advertisements and marketing materials and awareness of consumers' increased anxiety at this time.
You can read more here: https://www.hklaw.com/en/insights/publications/2020/04/the-impact-of-covid19-on-your-advertising-and-marketing-campaigns
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
Related Questions
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What companies have successfully implemented both B2B and B2C products or services? Which should I start with for the non-profit sector?
I would suggest the first question to ask is "what problem do I solve?" And of those people I solve problems for "who do I create the most value for?" In the non-profit world you need to add "How does my business help the non-profit run better and/or help the group the non-profit focuses on?" For example, if you've created a platform that drives donations, your company "has created a platform that helps you reach fundraising goals faster." What you don't want to do is market and sell to B2B and B2C audiences simultaneously. They have different ways of buying - a B2B audience needs to have their benefits quantified (using your thing makes me x amount more) - and it's extremely hard for a startup to be able to do both well. Better to start with one, execute really well and move into the other. Feel free to give me a call and we can dig into who your most valuable audience is.AV
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What advice do you give to a 16 year old entrepreneur with a start up idea?
First, hat tip to you for being a young entrepreneur. Keep it up! If you have the funds to build out your MVP, hire a developer and possibly a mentor. If your idea is marketable, you don't need to give up equity by bringing in a co-founder. If this is your entrepreneurial venture, I would recommend you do retain a coach to help you see all the things you may not know. Have you already done your SWOT analysis? Have you identified your target market? What is your marketing plan? What will be your operating expenses? There are lots of questions to ask. If you would a free call, I'd be happy to help you in more detail. Just use this link to schedule your free call... https://clarity.fm/kevinmccarthy/FreeConsult Best regards, Kevin McCarthy Www.kevinmccarthy.comKM
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How can I smoothly transition from full time worker to self-employment?
The ways I've done this in the past are 1) Find some customers that are willing to hire you (or your product) but know that you'll only be free nights & weekends to support/work with them. 2) Find a "partner" (co-founder or other) that's got a flexible schedule that can help build the business while you're at work. 3) Block out nights, mornings and weekends to build the business till you have enough orders to cover 50% of your salary. This might mean 7pm-11pm most nights, and 4 hours each day Sat & Sun. Make progress (sales $$$) and momentum. All that being said, it's risk reward. Sounds like you want to avoid taken the risk, and I get that .. but the upside is always smaller. Unless you put yourself in a position to have to succeed (ex: quitting your job) then you may never make the scary decisions that are required to build a company (like cold calling, going in debt, making a presentation, etc). I'm on company #5 with many other side projects started nights & weekends .. so I get it - but don't be afraid to bet on yourself and go all in.DM
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How do you determine if a business idea is worth pursuing?
You ask the customers, and gauge their level of interest. Better yet, get yourself in front of some customers, and instead of telling them what you make or do, ask them what they need. When you notice that many of them need the same thing, and if it is something you can make or provide, you then have a business idea worth pursing.DF
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If I have a business idea for a large company, how can I give it to them and mutually profit, without them just taking the idea and squashing me?
Probably not the answer you're looking for, but companies have so many unimplemented ideas that the likelihood of partnering to implement someone else's idea is really low. And besides which, the idea is not something that has much value in and of itself. If you're passionate in the idea, build it yourself. That's the only way you can have leverage.TW
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