Article Contributed by Darren Fell
A constant capacity to disrupt is something that binds the most successful entrepreneurs together.
Apple, Amazon, IBM; all are examples of companies headed by minds that refuse to accept the status quo and challenge convention. As their success reflects, it’s the disruptors, not the disrupted who survive and thrive in business.
Eager to follow suit and establish yourself as a disruptor? Here’s five tips to get you started…
Examine and then innovate
The marketplace is ripe with outdated processes, products and professions ready for disruption. Working outside an industry you’re often more capable of seeing what can be improved, so examine the market and see what can be freshened up and made better for the customer.
Technology offers innumerable ways to do this, but if you intend to disrupt a service industry, be sure to offer a human element. Automation often improves efficiency, but don’t undervalue the importance of a human helping hand.
Assemble an experienced team
Once you’ve set your sights on your target, set about assembling a team with a wealth of experience. They should be established figures in your industry, carrying expertise that’ll help shape your strategy.
Ensure that this team is full of forward thinkers, combining intimate knowledge of their market with an ability to envisage its future. Assembling a team with these qualities, you’ll be well equipped to shake up your industry.
Build a brand that counters the bland
Disrupting, you’ll be going against convention, so you’ll need to reflect this in your marketing activities.
Cast an eye over your competitors and break ranks. Create a brand name that goes against cliché and make it memorable. Elsewhere, use the multitude of marketing mediums to reflect your personality and ensure you set yourself apart from competitors.
Be willing to take a smoke and mirrors approach
A ‘smoke and mirrors’ approach can be critical to disrupting, scepticism and inertia sometimes strong amongst potential customers.
To combat this, you’ll thus need to create a compelling vision of your product and illustrate how it’ll better the status quo. Of course I’m not proposing that you do anything unethical or illegal, just be willing to stretch the reality of your product or service’s capabilities and then add this when you have the resources to realise them.
Cut customer costs whilst increasing quality
Price tends to be paramount in the customer’s mind and unless you’re offering state of the art innovation, then you’ll need to cut costs in some regard.
A good way to do this is by targeting the service industries, particularly those that bill by time. Look to offer greater efficiency – perhaps through the use of technology – and ensure that you cut costs for the consumer. Cutting costs whilst delivering greater efficiency, you’ll naturally disrupt!
About the Author
Darren Fell is Managing Director at Crunch, UK based accountants for contractors and Go Limited, online company formation agents.