Learning from the Best: Business Model Shifts That Inspired Success

No business is too small to evolve. If you’re an SME looking to revolutionise your business model and stay ahead of the game, this blog is for you. Join us at VK Transformation as we unpack real-world case studies of brands that have successfully adapted to meet modern demands. Whether you're a heritage brand or a digital disruptor, staying relevant means thinking ahead of the curve and responding with agility, just like the businesses featured here.

1. Bee Cheng Hiang

Bak kwa was traditionally sold as a seasonal product during the Chinese New Year festivities. It was typically purchased in bulk once a year. Specialty stores struggled to maintain profitability year-round as sales would spike during the festive season and drop dramatically afterwards. Bee Cheng Hiang transformed bak kwa into a lifestyle snack through a series of product innovations and packaging improvements. Bee Cheng Hiang expanded its flavour profiles beyond the classic sweet-savoury pork to include a diverse assortment of different meats and local flavours such as Laksa. Additionally, the meat jerky company created vacuum-sealed, ready-to-eat packaging that extended shelf life, reduced reliance on refrigeration, and eliminated the need for time-consuming preparation such as grilling. Bee Cheng Hiang has also introduced a grillery where customers can shop and dine on gourmet fusion dishes, reinventing the ways in which the signature meat delicacy can be enjoyed. Bee Cheng Hiang demonstrates the importance of staying attuned to evolving customer needs while modernising in a way that remains authentic to its brand heritage and identity.

2. Castlery

Conventional furniture shopping often requires visiting multiple showrooms to assess colour, size and style in person. However, customers frequently face logistical challenges such as the lack of same-day delivery or transport, which can make the trip feel futile. Castlery curated a risk-free online shopping alternative by introducing Augmented Reality (AR) features that allow customers to visualise furniture in their own homes using just their smartphones. Its furniture configurator tools further enable users to arrange pieces within custom room dimensions to prevent clutter. Finally, Castlery streamlined the furniture selection process by personalising furniture recommendations based on past purchases. By combining technology with user-centric design, Castlery has transformed furniture shopping into an intuitive and readily accessible digital experience. 

3. Singtel

Singtel was originally a telecommunications provider offering mobile, fixed-line and broadband services across Singapore and the Asia Pacific. In response to telecom market saturation, Singtel pivoted towards enterprise digital solutions, offering ICT services in cybersecurity, cloud computing and smart city infrastructure to governments and businesses. It also made significant investments in new digital technology such as data centres, 5G networks and submarine cables. This strategic diversification allowed Singtel to leverage its existing capabilities to scale itself, establishing it as a leading provider of regional digital connectivity. 

How VK Transformation Can Get Your SME To The Next Level

Whether you're a heritage brand adapting to contemporary audiences, a modern business integrating new technologies or an innovative trailblazer looking to diversify, successfully transforming your business model requires clear strategy and targeted execution. At VK Transformation, our certified Practising Management Consultants empower SMEs to drive growth through brand strategy, business strategy, digital marketing and paid advertising. Business model transformation should not dilute your brand or stretch your resources thin. VK Transformation supports clients in leveraging government grants such as the Enterprise Development Grant (EDG) and Market Readiness Assistance (MRA) to fund their transformation initiatives. With VKT as your strategic partner, your business can navigate change with confidence and emerge stronger in an increasingly dynamic marketplace. Ready to future-proof your business? Reach out for a complimentary strategy call today!

Reach Out For A Complimentary Strategy Call Today!