5. Business models

Building a business model involves a number of stages, which are all the more complex in that they involve many players and still present significant uncertainties.

This construction assumes :

• a clear understanding of the investment and operating costs involved;

• a forecast of earnings ;

• an allocation of costs and gains, because in this multi-stakeholder model, those who win are not necessarily those who spend, which presupposes virtuous redistribution mechanisms;

• finally, an assessment of the risk of deviation from forecasts, which determines the propensity of a player to commit.