There are two types of business models recognized by the Micro-Business Enterprise Association LLC and the National Association of Home Based Businesses (NAHBB). One is the third party verified business model or franchise and the other is a general business model built by small business owners. There is a major difference between a certified business model and a general business model built by an owner with no outside help for testing and concept development.
Certified
Business Model and/or Franchise is built and field-tested in the actual
marketplace. Business professionals who are authorized to build certified
business models, do so, in authorized Small Business Development Incubators (SBDI)
with experienced business development teams attached. Authorized SBDI team
members include business developers, and other professionals such as attorneys,
accountants, marketers and management specialists. A Certified Business Model is built on a growth platform
which allows the business owners to get support and assistance when needed. Plus
if they belong to a circle-marketing network their success can be
protected their businesses if they follow the plans outlined by the SBDI team.
Many SBDI teams use executive and industrial suites to incubate business ventures during development. The Micro-Business Enterprise System only recognizes existing business models that are third party verified. New millennium venture capital firms and private investors prefer a Certified Business Model and Franchise. A certified model may not be necessary if you are not seeking venture capital funding.
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