Guide to Common Business and Work Models

If you are on the verge of launching yourself in a career of your choice you may want to consider the various options that you have. Your choice depends upon your core competency, availability or ability to raise capital and appetite for risk. Assess each option carefully and choose the one that suits you the best.

You may think that choosing to work for someone else is best but it many cases it is just the simplicity and inability to take risks that prompts people to seek employment. If you have confidence in your skills, you may choose self employment. Self employment is working for oneself instead of an employer. As a self employed person you draw income from a business that you operate, regardless of whether you own it or not. Self employments must be differentiated from disguised unemployment. Disguised employment is creating a contractual business to business relationship in an attempt to hide what is actually an employer-employee relationship.

Large companies are always on the lookout for qualified people. You may be a doctor, architect, lawyer or an engineer. If you have the skills, you may choose to seek employment with a company or prefer to offer your services as a consultant for a fee.

You may even choose to work freelance and work independently on contractual basis instead of seeking long term employment with one business entity. As a freelance worker you may choose to be your own marketer or get an agency to represent and allocate work to you.

In economics, income can be generated in four ways. Salary/wages (labor), rent (property ownership), interest (capital) and profit (compensation for risk). If you believe in your abilities and think you have something to offer that people will buy, you may choose to start a business. However, you will have to choose a business model.

A business model is part of business strategy, the fundamental reasons and the logic of how a business will create, capture and deliver value. You may choose to work from home and offer products or services over the Internet. One of the business models that have gained immense popularity recently is multi-level marketing (MLM). While MLM is a traditional term, Internet businesses prefer to use the terms affiliate marketing or home-based business franchising. It is a business model where you get compensated not only for sales generated by you but also for the sales for the persons you enroll or recruit.



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