What do I need to know to create a business model?

[Jasmine]

What do I need to know to create a business model?

[Alan Cobain]

A business model lays out the idea for a business, along with the step-by-step plan for making the business profitable. To put together a good business model, you need to know the value proposition for the company, projected start-up costs and sources of financing, the target customer base for the business, marketing strategy, competition, and projections of revenues and expenses.