Times are changing so fast, particularly in the world of business. How businesses interact with their customers, how companies innovate, and even the very business models that organisations are built on – all are undergoing rapid change. If you’re leading a company – whether it’s small or large, a brand-new start-up or an established business – you’ll need to understand the latest business models and assess how they might apply to your company.

1. Successful Business
The 9 Most
Models Of Today

2. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
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IntroductionIntroduction
Times are changing so fast, particularly in the world of business. How businesses
interact with their customers, how companies innovate, and even the very
business models that organisations are built on – all are undergoing rapid
change.
Yet, from what I’ve seen, many businesses are failing to keep up, and far too
many are operating on outdated business models.
The 9 Most Successful
Business Models Of Today

3. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
If you’re leading a company – whether it’s small or large, a brand-new start-up or
an established business – you’ll need to understand the latest business models and
assess how they might apply to your company. That’s why I’ve picked some of the
most successful business models for 2019 and beyond. Let’s take a look.

4. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
The Servitisation (Subscription) Business
Instead of selling a product or a service as a one-off, servitisation companies
operate on a subscription or ongoing service model, building a more intimate
understanding of their customers in the process. As an example, let’s compare
content creators Netflix and Disney.
Disney produces a film, releases it in cinemas, and the film is either a hit or it’s not.
They won’t necessarily understand exactly how many people watched it and how
much those viewers liked it. Netflix, on the other hand, has an intensely close
customer relationship, understanding exactly how many users have streamed a
movie or series, whether they gave up part-way through and watched something
else, whether they then went on to watch more content starring the same actor, etc.
Another example is Dollar Shave Club (grooming subscription company) versus
Gillette (razor manufacturer with limited direct customer relationship).

5. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
The Platform-Based Business
This model is closely linked to the sharing economy and subscription models (see
above – in fact, platforms are particularly powerful when combined with a
subscription model).
Well-known examples of platform businesses include Facebook, GitHub, Uber and
Airbnb. As you can probably guess from these examples, platforms provide a
mechanism or network – this could be a physical network, not necessarily online –
for parties to interact with each other.
Platforms deliver value for users by facilitating direct connections and exchanges
between people (the more valuable the network is to the user, the more successful
it is). In return, the platform gets incredible insight into its user communities.

6. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
The Social, Authentic Business
The traditional, corporate business model, with its hierarchies, silos and endless
formal meetings is changing. These days, customers want to see the people behind
the brand; they want to really “connect” with a business.
Remember how companies and, more specifically, the people who work for them
were discouraged from voicing personal viewpoints or discussing the company
outside of work? That’s now an outdated way of operating.
Today’s authentic businesses share their opinions and stand up for their values.
Typically, the CEO is active on social media and employees are actively encouraged
to be brand ambassadors. And crucially, the brand itself has a lively and engaging
social media presence, with a strong brand message that really connects with the
target audience. Some of today’s most authentic brands include Adidas, Apple and
Lego.

7. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
The Employee-Centric Business
The way we work is changing. People are more nomadic in their work, and the days
of a “job for life” are well and truly gone. To be successful, companies still need
great people, but the way they go about attracting those people is changing.
The “gig economy” has played a huge role in this transformation, since it gives
businesses the means to create a fantastic team in lots of different ways – not just
the traditional, full-time, permanent employee route. As such, businesses are
increasingly happy for people to come and go, and to work for more than one
company at a time.
In this changing environment, it’s vital companies become employee centric. This
means offering people an attractive place to work, flexibility, space to grow, and the
means to develop their career. Google is a prime example of such a business.

8. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
The Partner-Centric Business
As well as becoming more employee centric, companies are also becoming more
partner centric. They are almost like networked businesses, outsourcing work,
tapping into on-demand services, partnering with providers, and insourcing
expertise where necessary. They create attractive networks of partnerships – and
are a valuable partner to others.
Just look at the average small or mid-sized business these days and you’ll likely see
an example of a networked, partner-centric business. They might, for instance,
outsource their social media strategy to one firm, partner with a web design
company, bring in a brand consultant, enlist external training providers, and so on.
In today’s rapidly changing business world, larger companies have a lot to learn
from this flexible, scalable model.

9. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
The Customer Value-Obsessed Business
For me, this model applies to absolutely every business because it’s all about
solving customers’ problems, anticipating their needs, making people’s lives easier
and removing any friction or hassle.
Amazon is an obvious example of this. Online personal styling subscription service
Stitch Fix is another great example. With Stitch Fix, users detail their size and style
preferences by filling out a questionnaire (they can also link to their Pinterest
account). Then, using artificial intelligence, the system pre-selects clothes that will
fit and suit the customer, and a (human) personal stylist chooses the best options
from that pre-selected list. And voila, the perfect clothes for you arrive at your door
every month. No more shopping in crowded shopping centres, queueing for
changing rooms, or ordering items online only to find they don’t fit.

10. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
The Constant-Innovation Business
The ability to innovate is crucial to business success. But, today, the pace of
innovation isn’t just fast, it’s constant. Some of the most successful businesses in
the world are constantly innovating and transforming, even if it means
cannibalising their own products and services to create something new.
Take Apple’s iPod, for example. By introducing smart phones that could hold your
music, the company effectively killed off the need for a separate device. Sure, some
people still love their iPod.
But even die-hard iPod lovers won’t be surprised to learn that iPod sales have been
in decline since 2008 – which, funnily enough, was the year after the iPhone was
introduced.

11. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
The Data-Driven Business
Smart organisations recognise that data is one of their critical business assets.
Really smart organisations encourage a data culture, where the importance of data
is recognised at every level of the business, and decisions across the company are
based on data, not assumptions.
The data-driven business has measures in place to understand exactly what’s
happening now, and uses that information to make better decisions, refine
operations and even create new revenue streams.
Companies who really value data are well placed to experiment and innovate at a
faster pace, which ties in with the previous business model.

12. © 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
The Tech-Savvy Business
We live in a time of break-neck technological innovation. AI, big data, blockchain,
3D printing, augmented reality and virtual reality are just some of the massive
changes that are taking place right now. So it’s no surprise that many of the most
successful companies on the planet are tech businesses. Apple, Alphabet (Google’s
parent company), Microsoft, Amazon and Facebook are, at the time of writing,
among the six most valuable companies in the world; the only non-tech company
in the top six is Warren Buffet’s Berkshire Hathaway. Regardless of your sector and
company size, it’s vital your organisation embraces technology. If you don’t, you
risk being left behind.
Many of today’s most successful businesses have managed to combine a number, if
not all, of these business models to catapult their companies to stellar success.
Over the years, I’ve helped companies big and small reshape their businesses and
create more successful business models. So, if you’d like help with your business
model transformation, get in touch.

13. © 2017 Bernard Marr , Bernard Marr & Co. All rights reserved
© 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
Bernard Marr is an internationally best-selling author, popular keynote speaker, futurist, and a
strategic business & technology advisor to governments and companies. He helps
organisations improve their business performance, use data more intelligently, and
understand the implications of new technologies such as artificial intelligence, big data,
blockchains, and the Internet of Things.
LinkedIn has ranked Bernard as one of the world’s top 5 business influencers. He is a frequent
contributor to the World Economic Forum and writes a regular column for Forbes. Every day
Bernard actively engages his 1.5 million social media followers and shares content that
reaches millions of readers.
Visit The
Website
© 2017 Bernard Marr , Bernard Marr & Co. All rights reserved
© 2018 Bernard Marr, Bernard Marr & Co. All rights reserved
Bernard Marr is an internationally best-selling author, popular keynote speaker, futurist, and a
strategic business & technology advisor to governments and companies. He helps
organisations improve their business performance, use data more intelligently, and
understand the implications of new technologies such as artificial intelligence, big data,
blockchains, and the Internet of Things.
LinkedIn has ranked Bernard as one of the world’s top 5 business influencers. He is a frequent
contributor to the World Economic Forum and writes a regular column for Forbes. Every day
Bernard actively engages his 1.5 million social media followers and shares content that
reaches millions of readers.
Visit The
Website

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