How to save money when starting a business?

Or How to Choose the Best Business Model When Starting!!!

Choosing the right business model is one of the most important decisions you will make when starting a business. A strong idea alone is not enough — the way your business creates and delivers value will ultimately determine its success.

The best business model is one that aligns with your skills, financial situation and long-term goals. It should be realistic to launch, sustainable over time and suitable for the problem you are solving.

From personal experience, one of my past business endeavours was a subscription box business with the ambition of selling worldwide. While the product itself was well received, the challenge came with shipping costs. The boxes were priced between 30–50 USD, yet shipping to regions such as the USA or Africa cost at least 35 USD per box, which quickly became excessive for customers in my opinion and unsustainable for the business. This highlighted how crucial it is to consider every operational detail before launching.

When choosing a business model, keep these seven key elements in mind:

1. Your skills and experience

2. Target market and customer needs

3. Value proposition

4. Startup and ongoing costs

5. Revenue streams and pricing

6. Scalability and growth potential

7. Time commitment and lifestyle fit

   
   

Reviewing them early can prevent costly mistakes and help you avoid burning your money before your business has a chance to grow.

Looking forward to sharing more with you soon.

S.