On business models

I’m posting this because I know that one day I’ll be blogging on the topic of why the term “business model” is so useless (like the word “content”) and I’ll want to point back to this quote from Martin Sorrell: “If there’s a phrase I loathe, it’s ‘business model…In my company, we have 102,000 people working in 106 countries. Our world is made up of revenues, costs, profits, and cash flow….Can each panelist precisely say what their revenues, profits, and cash flows are today, and what they will be in a few years?”

Here’s my take: My bank has yet to accept a deposit from me for something called a “business model.” The only business model I care about is one that results in something that, at the end of the day, will be accepted as a deposit by my bank.