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How to Develop an Ideal Business Model for Startups

According to a recent study, having no business model for a product resulted in 17% of startup failures. Most founders focused on developing a product but they failed to conceptualize a business model for making the product successful. Ensuring that a product fits the needs of the market is only a part of starting a successful business. The other key ingredient is figuring out how you’re going to make money. This is the function of a business model.

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