What is the difference between Business Model and Business Plan?

difference between business model and business plan

It’s very common to make confusion on what’s the difference between Business Model and Business Plan. But, in fact, they are similar only in name. Their functions and purposes are quite different and, actually, complementary.

Facebook Business Model

Facebook Business Model Canvas

The Facebook business model is a multisided platform. Although other brands have called themselves “social network” before, such as Myspace or Orkut, it’s fair to say that the first to turn this digital environment into a successful business model is, no doubt, Facebook.

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