What can businesses learn from Uber?
Uber is a superb blueprint for businesses to look at in the age of Internet dominance. Initially set up in 2011, its revenue as of 2019 was more than $14 billion. And while its actual profits have been questionable, it packs an enormous punch across the vehicle hires, food delivery, package delivery, courier, and freight transportation industries.
Most people will know of it as being a convenient alternative to taxis and poorly funded public transportation systems. The service allows customers to rate their drivers, which makes it easier for the company to hold drivers accountable and improve quality control.
Uber customers can monitor their driver on a screen to estimate when they’ll arrive, which is a far preferable alternative to waiting a seemingly endless amount of time for a taxi that never shows up. With this massive success, there are a number of things that every digitally native business can learn from Uber’s ascendance to become a genuine verb in the English language.
Providing solutions to people’s problems Every business exists to serve a need for its shareholders and customers. However, most companies employ the same limited set of business models which are rarely enough to solve all the different challenges that customers face. Companies that provide unique services and offer better solutions will grow much more quickly. It’s absolutely crucial to pioneer something which fills a gap in the market and if it’s accessible, it’ll fly off the shelves.
Uber has demonstrated this by making it their number one priority to provide genuine solutions to problems that consumers have, that all their competitors have overlooked. Choose your market carefully Expanding into new markets is, obviously, one of the most effective ways to grow a business. Businesses need to consider every possible avenue for expansion, which may include:
- Finding new customer demographics
- Penetrang new markets and/or regions
- Growing a base of repeat customers
- Expanding what your service entails
Uber has grown by focusing on all of these strategies. While it’s never a good idea to grow into markets where expenses exceed revenue, Uber recognizes the value of expanding into markets with marginal growth opportunities.
SuperOne is another great example of hitting the sweet spot. It ticks all the boxes of finding new customer demographics, penetrating new markets, and expanding the services provided. It’s the very first solution of its kind, pioneering a product into a genuine gap in the market.
SuperOne is the world’s first platform to unify crypto gaming, networking, and direct ownership via blockchain innovation. What’s more, by focusing on the Asian market and the millennial demographic, SuperOne is harnessing the massive powers of online gaming and cryptocurrencies and providing it for the biggest consumer audience possible.
The concept of SuperOne is totally unique and is continuously updated as the product seeks to exceed global safety, reliability, and profitability standards. With complete control and ownership over its gaming algorithms, SuperOne is positioned to push industry valuations and create exponential value for stakeholders.
Uber pioneered a product in 2011 and has seen unimaginable financial growth thanks to astute business decisions and hitting that sweet spot. SuperOne has pioneered a product now that is set to change the gaming experience forever. Start-ups need to follow a blueprint — take note.