What is a business model? It is basically a story of how a business works. It is the method of doing business through which a company can generate revenue. Both start-up ventures and established companies take new products and services to the market by means of a specific business model.

1. Articulate the value proposition - the value created to users by using your product.
2. Identify the market segment - to whom and for what purpose the product is useful. Specify how revenue is generated by the firm.
3. .....