The Ministry of Human Resources and Emiratization asked young citizens, among those who follow its official account, "Tawteen" on the social networking site "Twitter", a question that is: "Do you have an idea for a commercial project and would like to know how to transform it into a successful and profitable private business ...?". It was followed by an answer in the form of a business model known as "BMC," affirming that it enables those wishing to establish private projects to achieve what they seek by following nine steps.
The Ministry advised young people wishing to establish private projects to apply the business business model, as it is one of the best modern tools for measuring the feasibility of the project idea, before preparing a detailed feasibility study, stressing that it has features that make it better than the business plan, it is composed of only one page, while not less The business plan is about 20 pages. Anyone can prepare it, while the business plan requires an experienced person. It also takes a maximum of two hours to prepare, against a much longer time for the work plan. Finally, the ease and speed with which an idea can reach anyone, while the action plan needs clarification that takes longer.
And she showed that preparing a business model needs nine steps: The first: "Determining the needs of basic resources." Necessary assets include whether physical (lands, buildings, equipment, equipment), human (employees, company owners), intellectual (trademarks, knowledge, customer databases, copyrights), or financial (financial needs).
The second step is to define "who are the main partners", by implementing activities by contracting with external sources and parties. The third step concerned "cost structure", which can be easily calculated after defining major resources, activities and partnerships. The fourth step was "How to communicate with customers," or the so-called "target market segments".
The fifth step to planning a special project included "how to deliver the service or product to customers", through direct private distribution and sales channels.
The sixth step was to "establish the proposed values". It is the pursuit of solving customer problems and meeting their needs.
The seventh step was concerned with adopting relationships with every segment of society and working towards their sustainability.
And the eighth step "identifying revenue sources", which includes "selling assets", "usage fees", "subscription fees" and "return and leasing", which means setting specific fees for renting the company's property, and "licensing", which means granting permission to use The activity or the name of the store or products, against a certain fee, and "selling products or providing services", through direct or indirect communication channels, through advertisements.
The last steps included in helping establish projects included "identifying key activities". It refers to the activities required to implement the business business model, and includes a “platform or network”, such as a company that produces electronic software or provides a service through the Internet, “problem solving”, such as a consulting company, and finally “production”, such as a factory whose main activities are production lines.