In 2020, the pandemic challenged all companies, tested every element of the organization's workflow, and forced them to re-evaluate their planning process.
The pandemic, in hindsight has provided an opportunity to reassess the company. Which parts are the most successful? What needs to be repositioned? Which should be eliminated? Where is the unused growth area? Regardless of the outcome, the CEO must take action.

In 2021, 80% of the companies surveyed are planning important strategic steps such as acquisitions, sales, new business models and ubiquitous automation. In fact, 39% of the firms have already taken strides in 2020. More than a quarter (27%) of companies are considering making such plans in 2021. In some cases, it accounts for 14% of the total plan.

Benjamin Talin has proposed 9 business models for 2021: new opportunities for the company. These 9 disruptive business models are:
    1. Free value-added model or Freemium - Use case: Spotify
    2. Subscription model - Use case: Netflix or your ISP
    3. Free offerings (or discounts)  - Use case: Google or Facebook
    4. Marketplace model  - Use case: Amazon or Alibaba
    5. Shared economy - Use case: Airbnb, Lyft
    6. User experience - Use case: Tesla
    7. Pyramid model - Use case: Amazon or Dropbox
    8. Ecosystem-Build your own ecosystem - Use case: Apple
    9. On-Demand model - Use case: Amazon Prime, Uber

Technology has changed our world and this trend will continue. As such, classic business/pricing models such as cost-plus or T&M (Time and Material) are obsolete. It is worth reassessing the current market conditions and which of the 9 business models can be applicable to your business.

You may even develop new business areas, or even use your knowledge to venture into other industries. It is important to reiterate that these are just examples and a successful business model can consist of several elements and mix different sources of income.

Next: 3 Best practices to drive successful Business Planning