Taking a business class to graduate high school and falling behind. Can anyone please help me understand this. Thanks!

Chosen Answer:

A business model is a framework for creating economic, social, and/or other forms of value. It is basically how the business makes money — e.g. advertising based model, sponsorship model, subscription model

A business plan is your roadmap on how to implement your business model. It is a document describing what the business is all about, what the business model is, what’s the value proposition, how to reach customers, how to market the business, how to recoup the investment, etc
by: imisidro
on: 11th March 09