OUTSTANDING AND MIND BLOWING BUSINESS MODELS (PART TWO)


In our last post on outstanding and mind blowing business models, we talk about multi-level marketing model, competitive model, middle man model and circular model, you can read the complete post here https://www.afrocentricgroup.com/community/253/outstanding-and-mind-blowing-business-models

Today, we at Afrocentric School will empower your mind with more business models.



1) Monopoly model

As the name implies, every business man seek for means to monopolize a market, it is the ultimate dream of every business but government regulations, laws and policies does not permit monopoly in many countries. So how do you employ this model when the law is against it? Simple, have agreement with distributors and retailers to store only your product for some form of incentives. Breweries adopt this strategy, they would tell you to sale only their malt drink brand in your bar to qualify for free drinks every week. The more distributors on your 'pay roll', the more you monopolize the market.

The essence is that when people get used to a particular brand, it becomes difficult to try competing brand.

Another way is to obtain a pattern right if your product is an invention of yours. This will give you monopoly to be the sole manufacturer for a number of years, say 5 years. When the pattern expired, other players would swoop in but you have already created a psychological attachment to your products or services. Indomie adopted this model when they started the popular noodle brand.







2) Multi-channel or duplication model

This entail duplicating your business in terms of geography or products. Every success should be duplicated, this is my best business model, if am successful in a hotel business, I look for another location and open the same business. Since the experience is there, it becomes easy to establish, structure and manage such business. Every successful entrepreneur should adopt this model. This is what make Dangote the richest man in Africa. Instead of jumping from one business to another, aim to dominate your industry.



Multi-Chanel model also mean using different channels to sale the same products or selling different product through the same channels. When you are successful in one business, think of how to duplicate the success in anyway, think how best to used the channel you created, think of which other channels or product to adopt and you have a multi-channel model. It is the formulae of the multi-millionaires.







3) Franchise

This is a familiar word. A shopping mall failed at port Harcourt, I approach the owner and asked why they didn’t buy franchise from popular names like Spare or Everyday Supermarket, even when such company is not willing to sale, you can persuade them? He said they have their own company and have to promote their name.

Is good to build your brand but if it is not working, accept defeat and buy franchise to avoid going bankrupt. People buy goods based on name and brand, people buy emotionally, key to this or fold up.

Franchise simple means adopting the name of another brand in your business, it entails paying a certain amount to a parent company to use their name and management. The business would still be yours. Adopt this model if you are new to the industry or if your business is not doing well.



The problem we have in Nigeria and Africa is doing it alone, it is very difficult to partner in business here, every body want to do their own thing solo, but some of the big business we hear today such as Yahoo are owned by two people and they run it successful. We must learn how to pull resources together and run a business comprising of more than two owners of almost equal shares.

Our enterprise development scheme is created to solves this problem, here we are the management, entirely different from the investors or participant. You can check our on going project here https://www.afrocentricgroup.com/schemes







4) Freemium model

The term “freemium” comes from the combination of words “free” and “premium” according to Anupam Sah. Co founder at Sodio Technologies. In this model, you offer free things to attract people then present your premium paid products/services, simple.

This model can be adopted in any kind of business but it is mostly used in online businesses. You can equally reduce the price at the beginning to gain market share and psychological attachment to your products/services, then increase later having acquired enough market share.



Business is all about people and model, build the right team, get a good model, and be successful. Products or services are secondary.

We are Afrocentric...we empower your mind.

If you have the money, buying a franchise is just the best!!

Nice article.