By Dave Kahle
“Is there one business model that you would recommend to a budding entrepreneur?”
That was the question a young man asked me recently. I reflected for a moment over the past 25 years, and answered this way:
“No. I’ve worked with over 500 businesses, and in that pack there were lots of different business models. What I’ve seen is that the model is less important than the implementation on the part of the company’s leadership.”
Let me explain. It is, of course, possible to have a flawed business model. But, honestly, I have only seen one or two of those, where, no matter what the leadership does, the business is not going to survive. It’s just a bad idea.
These are usually the result of people who are passionate about a product or idea. Unfortunately, that passion displaces common sense, and they ride that idea until it has siphoned their resources and depleted their energy.
The world is not full of bad business models. On the other hand, it is crammed with models that can and do succeed, providing the leadership is effective.
The path toward success is rarely formed by the business model. Far more important are the skills and character of the leadership. Drop a highly skilled, high-character entrepreneur into any model, in any market, and watch as he/she leads that company to growth, prosperity and market leadership.
The ultimate path for business success is far more about improving yourself than it is about finding the right product, market or model. Read more