Innovative Models

After this week's discuss of business models, I began thinking about other recent innovations that I've noticed popping up in this realm.  We talked about the recent trend in subscription and/or web based businesses such as the the Dollar Shave Club. Another company that has chosen a similar model is StitchFix.  StitchFix ships a small collection of coordinated clothing and jewelry to your door every month, personally styled for you, with the option to receive a discount for purchasing all items.  The company has been very successful in creating value for "the profile of a time-starved woman", and found a viable market.

Another business model that I've observed gaining momentum is the model adopted by companies likeWeWork based in New York City, or smaller startup Moniker out of San Diego, CA. These companies focus on providing beautiful shared spaces for everything from community events to office space. WeWork has many locations worldwide and a rapidly growing group of clients who enjoy the collaborative environment, networking opportunities, and energy that renting work space from WeWork affords them. WeWork's mission is to "To create a world where people work to make a life, not just a living." Moniker group is also integrating design services into their model. I am really interested in looking into applications for this business model outside of office or event space rentals. I feel that my generation is increasingly drawn to the on demand as well as the idea of using space/services temporarily rather than owning everything themselves.

 HandyBook is an example of one of the newer on demand companies, coming up with others such as Favor or ZipCar. Handybook connects customers to on demand home services or repairs and allows booking through its website or mobile application.  There are many more companies finding success with new models or models that are being adapted to today's demands. Many are very creative and have definitely inspired me to continue exploring ideas for models that I may want to employ for my own business ideas.

Meredith GeeComment