The distinction between a [[business idea]] and a [[business model]] is crucial for entrepreneurs and business planners. While a business idea is the starting point, a business model is the blueprint for turning that idea into a viable and sustainable business. A compelling business idea may capture interest and imagination, but without a solid business model, it may struggle to achieve long-term success. Entrepreneurs must therefore transition from the ideation phase to the planning and execution phase, where they develop a robust business model that addresses market needs, leverages competitive advantages, and ensures financial viability. This transition is essential for transforming a creative concept into a thriving enterprise. In summary, while a business idea is about what you want to do or offer in the market, a business model details how you plan to do it successfully and sustainably by outlining your strategy for generating revenue and managing costs. ## Activities - Watch the video [Getting From Business Idea to Business Model](https://youtu.be/wwShFsSFb-Y) on the difference between a business idea and a business model and its importance in making your idea succeed. Next: [[Large companies versus startups]] Back to [[Key Concepts on EITT]]