The modern world problems require modern solutions. An exciting new idea that serves as an appreciable modern solution is the On-Demand Business model. There was an era of business principles that lasted for as long as 4000 years and the On-Demand Business model works completely against that tide. It works on the idea of Access more than Ownership. In a technologically developed world where everyone demands everything NOW, the on-demand business model serves the purpose much better than conventional strategies. This setup has moved the whole scenario in which business was conducted. The numbers that companies like Uber and Airbnb Business Model are earning are instant proof of the success of the on-demand business model.
In this framework, companies try to gain access to the requisite resources through rentals rather than owning them. This means that, conventionally, to provide shelter to travelers one would have the need to build a hotel. However, with this business model, one just rents a place who has space up on offer and becomes a linking chain between the host and the guest, earning commissions and service charges from both. In this access, one does not need to own the place to conduct business, neither does one have to pay taxes and maintain the place.
This transaction is conducted by means of on-demand business app. This is a mobile phone based application that connects customers to their need on the tap of a button. This easy approach to acquire desirable products is a fascinating idea to today’s world which is in demand for immediate fulfillment. This particular aspect of today’s world makes the on-demand business model all the more efficient. A majority of the world is equipped with a smartphone or an iPhone and hence all the services are a click away. From groceries to medicines, from cabs to hotels and home-stays, everything the world has to offer is at the tip of the fingers.
A stupendous example of this business model is Uber. They make complete use of the on-demand framework. It has its own on-demand business app with the majority of the world population having access to smartphones it is a terrific win! It also completely follows this business model. Uber has co-ordinated with car owners driving their own cars. Customers avail these cars (taxis) through the Uber app and hence take the ride. As the cars are not owned by Uber, they are exempted from taxes, maintenance, parking charges and so on. They collect their revenue from the passengers, giving off a majority part of it to the drivers. This innovative technology incorporated with its outstanding service is what made them a multi-billion dollar business today.
With the on-demand business model in the run, we can finally say that the future is here. This strategy instantly fulfills a customer’s desires, which is what humans have always wanted. This framework has made products available much faster and so much cheaper and without any effort. Technology enthusiasts are already turning to such policies to satiate their technological hunger and others are flocking behind them.
With the technical advancement and the modernistic approach to old problems this world is facing, it is integral that one adapts oneself to reach the top. The models of such business enterprises as Uber and Airbnb are very intriguing as well as effective. All one needs to do is look for a simple, daily necessity, something that most people use every day and convert it to a business opportunity using the on-demand business model; and then one has to never look back.