The proper time to determine a company's business model is following the of the business idea and prior to fleshing out the operational details of the firm.

Initial validation of the business

Explanation:

The proper time to determine a company's business model is following the Initial validation of the business of the business idea and prior to fleshing out the operational details of the firm. This is because without knowing exactly what they company wants to accomplish you cannot create a model/blueprint to try and accomplish that goal, and only once you have the blueprint can you iron out the operational details of the company.

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