DE VERA

Reflection: The 9 Most Successful Business Models of Today

Entering the business industry requires a lot of things for you to be able to attain
success. And as the world continue to face unending changes, development and
innovation, all businessman and entrepreneurs must know all these changes and trends
and must be able to adapt and catch up to what is in. Being flexible and having the ability
to easily adapt to what is trending in our society nowadays is one of the keys in a
successful business since it gives you the idea and knowledge on what kind of product
or service a customer needs and by that you’ll come up with a new plan on what product
you are about to offer to make your customer satisfied and contended.
The article I have read was all about the successful business models now in our
time and those are the subscription business, the platform-based business, the social,
authentic business, the employee-centric business, the partner-centric business, the
customer value-obsessed business, the constant-innovation business, the data-driven
business and lastly, the tech-savy business. Each of these business models are being
discussed in the article, on how it became successful together with their specific business
examples. And as I read the article, I come to understand that those who are open for
improvement and changes are the ones who obtained success in their businesses while
those who only embrace their ideas, plans and concepts from the beginning and stick
with it until the end are the people who ended up facing failures on their businesses. And
with that being said, I learned that it is important for every businessman to always be open
to whatever changes might occur in their business. They should embrace development
and innovation and are always ready to welcome new ideas and concept to further
enhance and improve the product or service they are offering to all the people. According
to the article I have read, the customer value-obsessed business is the business model
that applies to almost all businesses and I agree with that since that model is all about
solving customer’s problem, catering what they need and want. And that is what business
is all about, catering people’s needs and wants in order for them to be contended and
satisfied.
What I learned from this article is that many businesses are failing due to not being
able to keep up to what is in and what is trend. Creating and having an advanced and
improved business model is one of the greatest advantages of your business to become
victorious since all of us and everything that surrounds us are undergoing changes so, it
is a must to meet the needs and wants of the people with the product you are offering. In
addition, holding onto outdated business model and sticking only with your plans and
ideas without any development and innovation will only bring breakdown and failure to
your business.