Gain competitive advantage by embracing digital disruption

For the past 30 years, business has changed substantially due to digital innovation. Although many companies have fundamentally changed, very few companies had their core business model disrupted. It took 70 years for Motorola, and 30 years for Nokia and blackberry to disappear. Oyo and Airbnb are displacing Hospitality industry. Companies like Netflix changed their core business models from renting DVDs into on demand video streaming.
Present wave of digital disruption is completely different, we do not know how quickly new entrants come and change the game. This rapid disruption is triggered by 3 key drivers
Rapid reduction in hardware & software cost for innovation

Rapid reduction in hardware & software cost for innovation

Shift of innovation from producers to users

Shift of innovation from producers to users

New channels & methods to reach customers, Faster

New channels & methods to reach customers, Faster

Based on our experiences with wide range of customers in the industry we came up with 10 rules for digital disruptors that change the game.

10 Rules for Disruption

1. Adapting to changing world

Gartner says, “The goal of all organizations should be to lean into uncertainty and come out stronger and more successful on the other side”. Being able to adapt to quickly to uncertain future may bring to businesses and not being end up so struck in their ways.

2. Be Bold v/s being Bolt – on

Incremental innovation to embrace new technologies- Bolted On approach.

3. Embrace uncertainty

No one can truly be certain of what lies ahead except looking to the past and learn about what to expect in the years ahead.

4. See beyond outer layers

To start your own disruption, you must look beyond the outer layers of your business

5. Do not get boxed in

When your idea finds a solution that changes the “assumed parameters” you can shift the paradigm and cause real disruption.

6. Disrupt Yourself

Disruption begins with the individual. The best way to fend off disruptors is to become the disruptor. Every constraint can be a catalyst for moving up our learning curve. Investing in technology or way of doing things, that would if successful make your current process obsolete.

7. Continuous Improvements

Continuous improvement is better than delayed perfection. Get a litter better every single day.

8. Making measured & Hedged Bets

Invest in other businesses that may develop cutting edge ideas that could be beneficial.

9. See 2 steps down

See beyond current innovation and secondary business opportunities that can be leveraged with current business.

10. Empathy & Design thinking

Know the unstated need of people and how to make it simpler.

Download your Guide to Digital Disruption