Anyone wanting a profitable business today and into the future has to understand new technologies, changes in customer behavior and their impact on existing business and revenue models. This is already recognized in the digital world, but is equally applicable to more classical industries. Companies such as Uber and AirBnB are revolutionizing the market and driving out established business models by capitalizing on the rise of the sharing economy. Taxi drivers worldwide are struggling due to new app-based competitors and hoteliers are similarly affected by the many customers now booking private apartments while the owners are away. Developments such as Software as a Service (SaaS), Industry 4.0 and cloud technologies are affecting many industries, and will drastically change the structure and requirements of future revenue models. The result: Two thirds of companies worldwide are currently moving to future-proof their businesses, adjusting revenue models in reaction to the prevailing market trends.
Advice of Simon-Kucher experts:
Don’t lie back and relax because you have a successful revenue model — the competitor landscape is evolving constantly. Combine your experience with technological expertise and market knowledge and continually adapt
your revenue model.