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First of all, we study "what is a Business Model” and then we study its importance. Business Plan VS Business Model and finally we discuss about the four main Components of Business Model. Business model definition A Business Model of an entrepreneur is a design or diagram of business plans or simply we can say it is diagram of Business Action Plan to gain profits. Business Model tells the entrepreneur that how an entrepreneur can compete in the market? how effectively he / she utilizes business resources? how to interact with customers and capture customers’ value? how to sustain or stabilize the business to earn legal profits and benefits the whole society? It is to be noted that a business model should be sustainable otherwise, it will fail at the end. For Example, an E-Commerce Shop adopts a business model related to products but fail in implementing it because there may be low demand in the marketplace for the products or products or services ...

How To Start a Sole Proprietorship Business in California? It is very simple. There are no legal formalities of establishing a sole proprietorship business. Nor you need to file tax returns. Following are the steps to start Sole Proprietorship Business In California 1. Business Licenses A business license is a grant given by legal authorities to operate the business legally. For Sole Proprietorship business, it is obtained in the clerk’s office where the principal location of the business is located. 2. Business Permits You have a choice to open sole proprietorship business with his / her own name, otherwise, you need to create Fictitious Business Name Statement that is submitted to the government authorities in the location where your business is actually located. It is very important that before starting sole proprietorship business, you must have a proper business plan and write it down on paper.  You can read How to ...

Below is the step by step guide on writing a business plan. An entrepreneur must follow these 7 steps to write a successful business plan for his / her foreseeable business. A business plan is a written document that describes how to perform your business ideas practically and how to achieve goals and targets to accomplish business ideas successfully. Because, it is the Framework or Roadmap to achieve your goals and turn your dream into reality. There are 7 important steps in writing a business plan: 1. Executive Summary It is a short summary of the whole business plan for which purpose the business is established.  The Executive Summary tells the outsiders about the whole summary of the business ideas and how effectively the business will go to achieve its goals. Executive Summary has great importance from the point of view of investors. They always invest in that company who has attractive and willful plans for the business. Therefore, busi...