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Invent Your Own Business Model
There are many different types
and shapes
of revenue models. Every
innovative company
invents its own unique
revenue model. New approaches
offer new possibilities for
innovative firms and serve as
leading-edge examples of
strategic thinking,
entrepreneurial creativity,
and partnering opportunities.
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Example:
Xerox invented a better revenue
model
A
strong and innovative revenue
model is very important for
early stage startups as their
investors are usually very
conscious of monetization and
return on their investment (ROI).
Existing businesses keep asking
profit-oriented questions to
reinvent their revenue models,
diversify revenue streams, expand
to new areas, or adjust to a new
generation of customers and
competitors.
The business in the digital
economy is evolving and
companies are responding to the
new business environment. The
accelerated development of
artificial intelligence (AI),
cryptocurrency,
digital
marketing,
social networks, and mobile
devices is expanding the
possibilities for revenue
generation.
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