Disruptive innovation: it’s not just for start-ups

by on 14 September 2017 in Business

 

You’ve heard of Uber, Air BnB and Airtasker. You’ve probably used one of these services too.

 

These brands are part of a movement that’s now pretty well known – business disruption, or disruptive innovation. They’ve upended transport, accommodation and, with Airtasker well, just about any service industry you can think of. They’ve also inspired lots of start-ups to take on the big guns in the process.

Disruptive innovation is not new though – the term was coined in 1995. And while disruptors are innovators, not all innovators are disruptors.

Where they are similar is being change makers and builders for your business. When you’re disruptive, you shake things up, changing how things are done and changing how you think.

As the saying goes, the definition of insanity is doing the same thing over and over and expecting different results.

It doesn’t matter what stage of business growth you’re at – if you want better results, you have to change what’s not working.

How can you think and behave like a disruptor?

You don’t have to start big or change everything at once. In fact, starting small can bring the best, most sustainable results. You may know of the ‘1% rule’ or ‘marginal gain’ approach to performance. It got its start in Olympic sports coaching and easily applies to getting better performance from the people in your business – and the business itself. Making small changes, and repeating them over time brings consistently, sometimes cumulatively better results.

It starts with your thinking:  

  • Identify areas of your business that need to improve – be open to change
  • Stay alert to trends in your industry and think of ways you can use them to your advantage. Can you catch the wave of a trend before others do? Think broad, big picture. Brainstorm ideas with your team – getting input from others expands your options, especially if you’re too close to something.
  • Make those 1% changes, and repeat them for sustainable results.

If you can make incremental changes in each area of your business, when you add them all up, you see dramatic improvements across the board!

Want to discover how to make disruption and innovation work in your business?

Join us for a day of innovation and inspiration!

In one jam-packed day, you’ll get practical strategies you can implement right away, and learn firsthand from successful business owners who have made innovation work for them.

Our speakers include the phenomenal Amanda Westphal, Founder of Prize Pig. Amanda grew her business exponentially, taking her from 12-hour slogs to working just 30 minutes a day – using the power of innovation.

Event details:

Date : Thursday, October 19th 

Time : 8:30 am to 4:30 pm

Venue : Level 27, Tower Two International Towers Sydney, 200 Barangaroo Avenue
Barangaroo NSW 2000

Find out more and book your seat.

Have an awesome week!

Regards,

Monica

CEO