If you’ve lived in the 90s’ long enough to be nostalgic, you can testify first-hand how consumer behaviors have shifted so drastically toward instant gratification. The evolution of technology gravitates around the capacity to experience moments almost immediately at will.
Today, we have the luxury of apps that allow us to enjoy a list of things when we want them. For instance, Netflix lets us consume whatever media we choose in immediacy; GrubHub lets us snack on whatever meal we crave in a matter of minutes, and Amazon lets us purchase a host of items at the snap of our fingers.
As both leaders and consumers ourselves, it is critical that we understand these evolving trends to better provide solutions to the markets we wish to accommodate.
To appreciate the on-demand business model, we must first acknowledge that its selling proposition rests on spontaneity and convenience. Brands that trail after the on-demand business path work with a business idea that allows profitability, sustainability, and scalability within a defined timeframe.
Let’s take a deep dive into the on-demand business model’s components, shall we?
Identify a demand and pain point
Determining a pain point and coming up with a studied solution guarantees a thorough business model. The more unique your approach is to a demand, the higher your chances of success and survival.
Decide between scheduled services or instant gratification
There are two ways on-demand apps work: scheduled services or instant gratification. In this case, ascertain how you’re providing the service you promise. For example, food deliveries often employ business models that include instant services, with consumers expecting their orders in sixty minutes or less. On the other hand, scheduled provisions involve transactions that follow established timetables—booking a flight, reserving a hotel room, picking up flowers. That said, companies that extend instant services have to have sufficient technology that allows them to deliver unreservedly.
Partner with reliable suppliers
To meet growing demands, founders must ensure that they have the staff and supplies to remain operational. From independent workers to contractual engagements, forming steady staffing helps keep everything in place. For stability, companies must first start with small-scale contractual supply then progress to freelance support when needed.
Invest in technology
Without the right tools—which, very clearly, accounts for the majority of your business model—your on-demand enterprise will fail. It is technology that generates your income streams, so it makes perfect sense why you should invest in the best. Decide if a native or web app satisfies your business model, and select a no-code platform that performs well.
With providers like bubble.io, developing engaging apps becomes much more feasible. What’s more, Bubble is a crowd favorite, known for building stunning minimum viable products (MVP) and sprightly applications. If your business flies, the platform can still very much house your on-demand business, too.
Mobile and web applications: the lifeline of on-demand platforms
The entire concept of on-demand businesses is anchored on mobility. Customers demand instant services precisely because technology enables it; smartphone apps and easy access to the web are prime reasons the on-demand sector thrives. In other words, the ready availability of the platform is exactly what makes the industry such a hit.
And with the no-code movement beginning to take the mainstream limelight, it’s understandable why entrepreneurs are slowly starting to turn to online marketplace app development. Along these services is the opportunity for entrepreneurs to quickly access the market, and extend products and services right away. Simply put, the advent of visual programming is making things much, much easier for the modern visionary. After all, numbers don’t lie—brands that focus on instant gratification are profitable, and the convenience of building these apps makes it all the more enticing ventures to explore.
Here are the leading pieces of advice to build a successful on-demand business
Begin with an MVP
Consider MVPs to be perspective-presenters, because they help make understanding the direction of your business much clearer. We all have dreams and ideas, but until our pitches are introduced to the market, we won’t fully know how our audience responds to them. MVPs help you spend your funds accordingly, as you only let out a certain amount in the hopes of answering a thesis.
Support Easy Registration
On-demand services are synonymous with speed and convenience. If registration alone is already a hassle to people, you can bet you’re instantly going to lose a chunk of prospects. Narrow down the information you need from customers to their names, emails, and payment preferences. Of course, a presentable UI is critical here, too.
Be straightforward with your business goals
You can’t have it all. No matter how grand your idea is, it’s always best to start small. Focus on a community or solving one problem at a time only. Targeted niches are much easier to please compared to multitudes of demographics altogether. Entering this scene requires more than just a fully-functional application; you need to know the answers to how wide your services’ coverage will be, who supplies your products and services, what packaging your goods will come in, and a thorough market projection.
Some of the biggest businesses today are born out of engaging platforms, and your idea could well be worth millions.
If you’re thinking about developing an on-demand project, give us a ring, and we’ll help you out!