Freelancing
First, the popularity of freelancing is growing at a rapid pace. Indeed, in a few years, the majority of businesses are likely to be using freelancers and this is completely understandable when you consider the numerous benefits of this type of work model. For instance, you might find that you can save money because you’re not tied to trying to offer the same type of incentives to workers on a freelance contract.
Automation
Next, you should consider the role that automation has to play in the typical modern business model. It’s possible that you are already using numerous automated processes in your business model. For instance, you might be automating invoices. This is a smart choice as it means that invoices aren’t paid late. This can have a significant impact on the finances of your company. Automation means that you can run your business effectively, even when you are using a smaller team or running your company remotely. This brings us to the next way that the business model has evolved over the last few years.
Remote Work
You might also want to consider running your business using a remote model. This movement has largely been spurred on due to the coronavirus pandemic. The coronavirus meant that the only way some businesses could continue to operate safely was to run their company from home. That’s why numerous businesses shut their doors and many have not opened them again. Indeed, the head of Barclays claimed that we have reached the end of an era in terms of large business offices. Whether this is the case remains to be seen. If you are interested in switching to a remote model you need to have a clear understanding of this new work structure. You can find out more about this using sites such as Reworked. This digital publication has plenty of information for managers interested in this particular work model.
Accountability
Finally, the level of accountability in business has certainly shifted and many would argue that this is definitely for the better. In the past it was quite common for work environments to be disorientating, hectic and in some cases, even toxic. However, this is no longer deemed acceptable. Business owners and managers are held to a higher standard and are accountable for ensuring that their team members are happy, healthy and safe in the workplace. This refers to more than just their physical health. Business owners need to take care of the mental health of their employees as well. The best way to do this is to make sure that you do perform regular temperature checks to ensure that there are no issues here.
We hope this helps you understand some of the key trends that are helping to reshape different business models and completely shift how we think about companies in general.