To succeed with an on-demand business model, entrepreneurs should focus on the following:
Market Research: Comprehensive market research is crucial to identify customer needs and preferences. Innovative Technology: Investing in cutting-edge technologies like machine learning and data analytics can provide a competitive edge. Customer Experience: Prioritizing exceptional customer experience can lead to higher retention rates. Scalability: Develop a scalable business model to accommodate growth and expansion. Partnerships: Forming strategic partnerships can help in overcoming operational challenges and expanding market reach.