There are many business models out there, but generally speaking, two of them are accepted by most entrepreneurs – B2B and B2C. They are completely different and you must understand each of them in order to make the right choice. In fact, in case you make success in the world of business, you must understand how this world works. Business owners must know who they are serving with their services or products. This is the only way to create a good business plan and start with the realization of this plan.
As we said before, the number of business models is huge. On top of that, this number is growing every year. But, there are two basic business models out here – B2B of business to business and B2C or business to consumer. Once you find out which business type suits you the best, you will be able to answer one important question – am I using the best business model? In addition, as a business owner, you should be able to expand your business in a better way because you will know which actions and activities you should use and in which way.
The importance of the B2B model for the economy is huge. As the name suggests, this is a situation where you are servicing other businesses. In other words, you are not working with individuals – only with businesses. The B2B model is different because it is not focused on making fast sales regardless of the cost. The main focus is placed on quality, timely service, and reliance. If you are able to create a good reputation, you can expect a long-term professional relationship and many repeat clients. If you want to build trust, you must focus on two things – provide assistance to solve problems and provide customer support to help their businesses.
The other basic business model is B2C. According to the latest statistics, the majority of businesses today are following this model that serves customers directly. When it comes to B2C business model, you have to think about two important things – pricing and products. Another thing that you should remember about B2C is that if you encounter any issues, it is vital to address these issues quickly. The quality in cases like this comes from a second place. If you take a closer look at the size of the businesses involved in B2C, you will notice that large business tend to expand and grow faster because they can provide more services and/or products at a low price.
— TextMaster (@textmaster) 19 de junio de 2017