4 Upcoming Trends for Business Models
All business models go stale over time. Just look at Blockbuster, TCBY, Encyclopedia Britannica, IBM, Kmart and many more that have been forced to change their business models. In the case of IBM, they have very successfully modified and morphed their business model and stayed ahead of problems. For many other companies mentioned, they were […]
Business Model Trend #1: Flexible Business Models
Winning business models of the future will be flexible. By this, I mean that these businesses will be able to double sales with one-third the number of employees. This may sound impossible, but it is not. Remember Armor All, the tire shining product. In the 1990’s, Armor All did over $300 million in sales with […]
Business Model Trend #2- Stakeholder Transparency
Winning business models will use the web to lower costs and add value. There are three primary methods by which this can be accomplished: 1. Giving customers access to information. How many customers are calling your company for pricing, manuals, and information that could be posted on the web? If only 1/5th of an employee […]
Business Model Trend #3- Create Recurring Revenue
Winning business models of the future will use membership models such as: home repair clubs, weight loss clubs, computer repair clubs and hundreds of other recurring revenue models to make their sales more predictable and profitable. Of course, to create a business model with recurring revenue, you must have a suitable customer base and product. […]
Business Model Trend #4- Too Few Geniuses, Too Many Drones
Technology has allowed businesses to automate processes to such a large extent that under-educated and under-skilled employees have little value other than hand-tasks that machines cannot do. Fifteen years ago, a highly skilled customer service representative was a valued employee. Today, companies have created a workflow process that allows anyone of average skill to perform […]
