How Effective Are Business Models?

How Effective Are Business Models?

"A good business model uses its resources to improve its market position, adding new products, features and customers or expanding into new applications." - https://www.entrepreneur.com/article/176530 

A business model is a plan for the successful operation of a business, identifying sources of revenue, the intended customer base, products, and details of financing. 

I think business models are effective if they are done correctly. An effective business model considers how customers pay. When customers buy a certain product or service, they usually have several payment options. The most common choices include paying one large amount or paying monthly installments. Some businesses also give their customers the choice to pay as they go or prepay for unlimited usage of a product or service. However, some companies also invite customers to buy or to rent, to finance their purchases, or to lease products instead of purchasing them.