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n 2. 1. 3. Business modellingAccording to Osterwalder and Pigneur (2010, p.14) %u201ca business model describesthe rationale of how an organisation creates, delivers, and captures value%u201d.In short, business modelling is:%u25aa a way to think about the business in a visual and intuitive way;%u25aa the entire business on a single page;%u25aa nine core blocks of the business to think about;%u25aa a tool to help build business models in a holistic way.Traditional business models are:%u25aa sale of goods (assets) %u2013 the most common type, representing the sale ofownership rights to a physical good (e.g. Zara, Carrefour, Decathlon, Notino);%u25aa lease or rental %u2013 granting exclusive rights to an asset for a specified period(e.g. leasing a car);%u25aa brokerage fees (commissions) %u2013 generating revenue from an agency(intermediary) service between two parties (e.g. on the sale of real estate);%u25aa user fee %u2013 generating revenue from the use of a particular service (e.g.Econt, Speedy).New business models apply different approaches to revenue generationthrough:%u25aa subscription plans with fixed monthly fees %u2013 generating revenue from thesales of a continuous service (e.g. Netflix);%u25aa advertising %u2013 generating revenue by charging advertising fees on productsand services (e.g. Facebook);%u25aa premium subscription %u2013 generating revenue from a service with addedvalue for the customer (e.g. Eduboom, Spotify, YouTube, AdidasRunning/Runtastic, Strava);%u25aa donation %u2013 revenue on a monthly, annual, or other basis (e.g. ABLEMentor, the Superhuman podcast with Georgi Nenov).Pereira (2023) systematises 24 different types of business models today thatcan be divided into three main groups: (1) conventional offline models, suchas: manufacturer %u2013 manufactures a product from raw material, and sells itdirectly to customers or to clients who will resell to final customers; retailer %u2013buys from a distributor or wholesaler and sells to final customers; brick-andmortar %u2013 a company with a physical space where consumers go to make apurchase; distributor %u2013 buys from the manufacturer and resells to retailers or602 European Entrepreneurship