What Is A Business Model

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In this step you'll learn about business models. A business model is the way in which a business is generating income by creating value and extracting compensation from customers. It is important to separate the business model from the business strategy. The business model is about creating value and getting compensated for it, while the business strategy is about executing and bringing the business to the market. Examples of business models include membership models, freemium to premium, franchises, and retail.