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Industry - September 23, 2021

3 Powerful Ways to Disrupt an Industry

The ultimate path to becoming a disruptor

It’s often said that change is the only constant thing. Now think of change on steroids and you’ve got disruption. From time to time, a radical event transforms how an industry operates forever. And in the aftermath of industry disruption, businesses shut down, and unicorns are born as well. Now it’s left to you as an entrepreneur to decide if you want to be taken unawares, or be one of the players that disrupt your industry.

While business-as-usual is continually the norm, there’s bound to be the occasional disruption like a Netflix or an Uber that steps in and forces entrepreneurs out of their comfort zones. If you want to be the suited business hero standing high on the mountain as the sweet storm of disruption transforms your industry, this is the way to go:

1. Create Something Totally New

To be a disruptor you must create an option that customers never had before or cater to a market segment that is either ignored or underserved. Let’s take Netflix for example, described by the Australian Institute of Business as the “Ultimate Digital Disruptor”, the streaming giant took out traditional movie shops by delivering a wider selection of premium content to customers at affordable prices.

2. Turnup Your Creative Juices

A lot of time creative minds are forced to stay on the conventional course, all in the name of sticking to the best practices. A wise man once said, “No one gets a trophy for being normal”.

To find deep solutions you must look at the market in a way larger establishments won’t. You’ve got the advantage of fluidity over the corporations of the world. You must intentional react to the pain points of customers and start finding doors hidden in the shadows of universally accepted approaches. 

3. Adopt Technology Early

From the simplest perspective, technology is a new way of doing things. It’s interesting how it centres on doing something new, the only way to disrupt an industry. Netflix used to be an email reliant service until the internet stepped in. The company instantly recognised how streaming videos was the ultimate game-changer and launched the streaming platform. 

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