Business Models for Start up Business

Abstract

Gamingdom is a new start up venture that provides online gaming service utilising the latest cloud computing technology. The high demand, popularity and exponential growth in the number of gaming enthusiasts and the market have brought about this innovative idea. This new venture aims to provide an easy method of gaming through the internet without heavy expenses on hardware and software and also minimising the existing high rate of piracy. A business model is an essential tool for building a successful new business and for any new innovative venture start up it is utmost necessary to have a proper business plan in hand before proceeding for its implementation. This paper looks into the best available methodologies and approach to provide value to the customer and how they can derive value out of the service. The development of a proper business model that looks into all the key components of a business like value proposition, target market, value chain, and methods of revenue generation was intended. An in-depth research was done to understand the difference between a business model and the strategic decisions of a company and how it applies to the business. The Representation of a business model is essential for the effective communication of the idea and for the clear understanding to the business stakeholder and investors and this paper looks into the different methods to represent a business model. Every coin has two sides; a clear understanding of the possible problems of a business model if not framed properly which could be lethal to the business was proactively assessed which would help to think about alternative solutions