This world is made up of 3 types of companies: those that love to remain the same and true to their legacy, those that love small incremental changes and innovation, and those that have no problem changing the game and disrupting their industry. One of those is a risk-taker, care to guess which one? Yep, you guessed it: the disruptor. A disruptor is an individual or company that goes again the norm of the industry and introduces an idea that changes how business is done. One of the greatest acts of disruption came out of Apple in the early 2000s: iTunes Store. Not only did iTunes revolutionize music on mp3 players and mobile devices, it changed how the music industry would release music to consumers. No longer did consumers have to purchase an entire album for a couple of songs, or rip music from CDs to listen to on their mobile devices. Consumers now could purchase their music from an online platform when and how they wanted. This was a game changer.
Innovators and disruptors both have a unique opportunity to remain relevant in their respective industries because they understand what their consumers want and how to cater to their needs and desires. Disruptors go even further and tell consumers what they want by providing a service or product that the consumer did not know they needed. Being a disruptor is extremely risky because there is no proof that your idea will catch on; however, sometimes it does not hurt to try (as long as this will not end your business). How do you become a disruptor:
- Analyze your current products and service and compare it with the market. Review your current marketing system and project implementation processes. Are those in alignment and how fast are you able to get great product out to market?
- Look at your industry, is there a need of that your customers have that is not being met by the industry currently? Could this be a need that would go against how things are currently done in your industry, but would be wildly popular amongst your consumers? Have you discovered a system of delivery that would be beneficial to both your company and your consumer? If so, you may be on to a disruptor.
- Review all pros and cons and ensure your systems can handle the change. Implement using digital marketing tactics to ensure it reaches the masses in a short period of time. Delayed or slow roll-outs can lead to a stolen idea by your competitors.
These are brief tips that cover the basics of the logistics of implementing an industry disruption. For a more detailed analysis, please contact us at www.empowered-strategy.com for a free strategy session. We are looking forward to helping you be a game changer!
S. Hunt, CEO of Empowered Strategy: A Consulting Group, LLC
Empowered Strategy: A Consulting Group, LLC is a management consulting company that partners with small and mid-size businesses and non-profits in developing strategies to tackle critical challenges, implementation of new plans/processes, increase growth and revenue, and strengthen current systems. We help companies develop the best plan that is customized and suitable for them and their industry to garner success. Find us at www.empowered-strategy.com.