There are few things as important as a business model when setting up a company. In many ways, more important than the product itself.
Because of that, I give it a lot of thought (both for my own projects and my clients). A thread. π
1/ π I looked at data provided by @GrowjoUS in order to determine which companies grew the fastest in 2020 and their predictions of the worldβs fastest growing companies for 2021. @GrowjoUS used different growth indicators to compile the list.
2/ π¬ I looked at the top 80 by the ranking criteria that @GrowjoUS used.
Then I layered on my own assessment of their respective business models. Here are are the main takeaways.
3/ π‘
1. πΈ The most prominent business model on the top growth list was SaaS (either freemium, or in combination with another business model like insurance).
2. π© Subscription hardware and B2B2C are examples of fairly new business models making their marks in terms of growth..
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3. π΄ Traditional business models like wholesalers and providers of financial services were underpinning products built with new technologies
4. π³ On the financial services front - spread businesses and credit card/debit card models were prominent
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