Understand and Honor Your Business Model

Ever wonder how legendary companies get started? Do they begin with elaborate business plans? Expensive surveys? Billion- Dollar loans?
                        NONE OF THE ABOVE
Great businesses begin with a great idea and a basic BUSINESS MODEL that people can easily understand and execute.
Every business is based on some kind of business model. In the case of southwest airlines, the business model is low cost fares and high volume, in the case of concord, the business model is high cost fares and low volume
When it come to business models, there is no right or wrong model. The key to running a successful business  is t find  a model that works and then work that model over and over again.
            Talking about the hospitality industry for example( hotels & restaurants). There are scores of different business models in the hospitality industry and each of the models has its success stories. Just look at some of the hotel business models available to travelers in and around Orlando, Florida.
            There are hundreads of “mom-and-pop” business models such as independently owned hotels, motels and bed-and-brakfasts.
            Then there are dozens of business models owned by chains of francisees, beginning wth the bare-bones, low-cost motels such as Motelsixetc and ending with the high-cost-luxury hotels such as exclusive Breakers hotel in Palm Beach, Florida.
Below are  some business models operating in the hospitality industry
-         suite- hotel business model e.g Homestead suites
-         extended-stay business models e.g suburban lodge
-         theme-park business models e.g the Animal kingdom lodge inside Disney world
-         convention hotel business models e.g Peace body
-         business hotel business models e.g The Hilton
-         mid priced, family- stay business models e.g Holiday Inn
-         historic hotel business models e.g the Century-Old park avenue hotel in winter park
-         golf and tennis resort business models e.g the Mission Inn in central Florida.
-         Luxury hotel business models e.g The Ritz calton and Four Seasons.

Enyinnaya Nnamdi
Sloane International Investments ltd
CEO
info-sloanebizconsultants@yahoo.com
+23407026341797