Creating a business model is sometimes harder than it seems. It involves pursuing new ventures and trying to use the business and financial strength you already posses. This way you can save time and money.

Deciding on a new business idea is a process that involves leaders from all departments, but going further, it will require creating a business model that will survive the new economy. Generating debates about how to approach the new market or what type of customers to serve will help the managing team decide if the new business model can be implemented.

But many times this kind of debates will drift of and one of the most important part of the equation will be left behind: the human part – the customer. Without asking for your customers’ opinion, a business idea could look good on paper but never pan out in real life.

This is why it’s so important to create a business model that could be tested before you put it in practice on a larger scale. And considering that time is a valued aspect of the business life, I can show you how to create a business model fast, with these key elements at its center:

the main idea – the business idea from which you start the business model. It may be something as small as a single phrase, or you could write a detailed version on 20 pages or so.

the targeted users/consumers/customers – list your targets. Is this business idea developed for consumers, users or other businesses? Create a list of places where your business idea can be tested on a small number of test subjects.

the proposition – decide what will be the key factor (aspect) of your new business model. Write it as a proposition so you can use it as a base for future sponsored campaigns.

the solution – detail what is the most important feature of your new business plan and how it will be perceived as a solution by the user/customer

the channels used – create a graphic that will contain a list of channels used by the new business model. Will you be selling door to door? Will you deliver the products or will you have a store? Use a business reporting software or a reports engine to get the job done fast and easy.

the budget and revenue – delivering a budget plan along with your business model can prove a very efficient way to save time. You only need a specialized accountant that can add the costs of this new endeavor and see how long it will take before it will become profitable.

the business key or advantage – Every new business model should have an advantage over the existing business models on the market. It’s the key element that makes your business different from others like it, the thing that separates your idea from the old ones.

Following these key elements, your business model will prove to be very accurate and you can use it from day one in various market simulations.