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Dan Lok Show

B2B VS B2C – Which Business Model Is Better?

Dan Lok Show

Dan Lok

Careers, Entrepreneurship, Business, Management

4.9825 Ratings

🗓️ 17 May 2020

⏱️ 3 minutes

🧾️ Download transcript

Summary

If you want to succeed in business, should you build a B2B or B2C business model? A good question with a simple answer. What’s the answer? Listen now to find out, as Dan Lok reveals his answer after years of experience with both business models, and how you can make the right choice for maximum business success.

Transcript

Click on a timestamp to play from that location

0:00.0

Here's a good question.

0:15.0

Which model is better?

0:17.0

A B2B model business to business or a B2C model, a business to consumer model.

0:23.6

Which model is more profitable,

0:27.0

which model is more scalable?

0:29.0

Now the answer is it depends.

0:31.5

It depends on your background.

0:33.4

It depends on what you know and what expertise

0:36.4

or skill set that you have.

0:38.3

Now, since I'm addressing to millions of people, for most people, I am generalizing this, okay?

0:45.3

For most people, chances are starting with B to C is a little bit easier.

0:51.3

Why? Because you are a consumer, I'm a consumer. It's easier for you to

0:56.1

understand what they want because you are one of them. Chances are if you're going into an industry,

1:01.3

go into a vertical that you have some experience in. You're selling a consumer product. It could

1:07.6

be an e-commerce product, right? Something that is low-ticket that everybody uses.

1:11.6

It doesn't cost a lot of money to get started, and it doesn't take a lot for you to advertise on the Internet.

1:18.6

It could be through Facebook, it could be through Instagram, it could be through Google.

1:22.6

There's so many channels that you can advertise in, or even selling it it on Amazon for you to get in the game

1:28.9

to get some traction to make their first few sales even you could consider going to kick

1:34.8

starter to start a kind of like a crowdfunding campaign right that you could actually pre-sell

1:41.1

it before you actually make it that that's a possibility as well.

1:44.7

A B2C model, once you have some experience, or if you're coming from a background from

...

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