RIPE FOR DISRUPTION
So, is your business ripe for disruption ? First, let’s all agree that ANY business will be disrupted and it is just a matter of time. But is YOURS ripe for disruption now ? This is a serious and complicated question, but luckily for us there are a couple of hints we can use.
The overarching indication you should look at is – Is the PRICE your customers pay for your products & services no longer in line with the relative QUALITY they get ?
This is pretty much the bottom line, but there are 4 indicators that are slightly easier to track:
(1) Do your customers still trust you (you can easily read their reviews) ?
(2) Is it absolutely convenient for them to use your products & services (reviews again…) ?
(3) Is technology properly utilized in your business ? Would it be the same if you had to rebuild it again today ?
(4) Is your product or service affordable to the mass market ?
This is a simple set of questions, but beware - answering them might be rather confronting. If the answers to those questions is NO – you might be in trouble as your business is “ripe for disruption”.
Want some examples ? Answer the above questions when thinking of “Blockbuster”, “Blackberry”, “Polaroid” or many others that fill up the CDC (“central disrupted cemetery”)…
Food for thought !