The business model is at the core of any successful startup and is one of the key factors determining every startup’s future success. Therefore, it is important to determine which model works best with your business in a highly competitive world for a growing entrepreneur like you. The right business model will predict the revenue accurately and lead to growth in the long run. Therefore, select the model with greater care. Without a proper model, you won’t be able to sustain or scale in the market with profit, and one day you are bound to fail after all the technology is powerless.

Understanding the economic value of a product or service before launching can make you think it is worthy enough for future investment and to sustain itself. So, taking an entrepreneur assessment or personality test can help you find the right model that can be a key component to launching a successful startup.

Here are some successful business models to consider for your startup to monetize your product or service.

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