There are tons of articles around talking about how to make your business disruptive. Most of them, published by big business authorities.
In fact, the word “disruption” from where disruptive is derived is almost a buzzword. A cliché that no longer evokes the meaning or thought that’s supposedly intrinsic to it.
Everyone talks about making businesses disruptive, but, what actually does it take to make your business disruptive?
What makes Businesses Disruptive
My very good friend and founder of My Growth Fund in South Africa, Vusi Thembekwayo aptly identies three things entrepreneurs can do to make their businesses disruptive.
According to Thembekwayo,
Can you make your offering faster?
Time is so much of the essence and people appreciate offerings that they can access very quickly.
For instance, we have seen how e-commerce has totally disrupted the retail market place.
You can now get products or services as far as half way around the world in hours. No longer in weeks that characterized the traditional retail system.
Using the example that Thembekwayo himself gave, Uber now makes hiring a taxi faster than saying “Jack Robinson”.
Ibom Soups says you can get hot delicacy of choice at any location within Lagos, Nigeria within 15 minutes. That’s disruption!
So, can you do it faster? Then, you’re set to disrupt the system.
Can you make your offering cheaper?
Can you provide the same value or even something higher than the value present in the market at yet a cheaper rate? Then, you’re disrupting the market.
In Nigeria for instance, Peak Milk came in with canned milk. This was priced way above what the ordinary Nigerian could afford. Many desired to enjoy processed milk but couldn’t afford it.
Promasidor, makers of Cowbell came in, saw the gap and thus introduced cowbell milk in small sized sachets. This way, even the poorest of the poor could enjoy processed milk.
Cowbell took over the market. That was disruption!
In fact, it was so disruptive that the makers of Peak Milk had to introduce the sachet version of the milk.
The same applied to the market of packaged palm oil.
U&I Palm Enterprises, makers of Ultimate Palm Oil recognized a gap. Bottled palm oil available in the market was high priced. This made it far above the reach of the ordinary Nigerian who’s obviously a middle/low income earner.
The company therefore introduced Ultimate Palm Oil in small sized sachets which was super affordable. This enabled the bulk of Nigerians who’re middle-to-low income earners enjoy the taste of hygienically packaged palm oil.
As it turns out, this is even the version of the product that’s receiving the most overwhelming market acceptance.
Now, other packaged palm oil products makers are in the process of also introducing sachet versions of their oil. That’s disruption!
So, think about it. Which innovation can you introduce to make your products/services cheaper without compromising on the quality?
This should tell you how you can make your business disruptive.
Remember 7 out of the 8 proven smart ways of raising capital to start your business requires business that are disruptive
Can You Make Your Offering Better?
So, better here might mean more convenient.
A typical case in point here is the Blockbuster-Netflix experience.
Whereas Blockbuster was such a big name in the motion picture retail space, Netflix was barely fledging and was on the verge of being bought over by Blockbuster.
So, what did Netflix do?
They introduced utmost convenience into the art of accessing and enjoying cinema content.
So, whereas you had to visit the Cinema to enjoy what Blockbuster offers, Netflix brought their to you.
Netflix leveraged the ubiquity of the internet to deliver Cinema content to people wherever they were.
People soon found out that there was no need visiting the Cinema to enjoy films. After all, they could more conveniently do so using their smartphones, tablets, PCs etc.
There was a huge change in demand. Netflix had successfully disrupted the motion picture retail market in no small measure.
Uber or Taxify says that you can book a taxi right inside your bedroom. So, you don’t have to endure the scorching sun waiting for a taxi. That’s disruption!
Aliexpress, Jumia and Konga say that you can buy just anything you want from the comfort of your bedroom and have them delivered in your house.
Look at your business niche and think about it. How can you offer your product more reliably, conveniently and promptly?
How indeed can you make your business disruptive?
What is Disruption and How Can you make your business disruptive?
Doing any of the abovementioned three things, that is, offering your product or service faster or cheaper or better is disruption.
However, the degree to which you combine these determines the level of disruption you introduce.
So, faster, cheaper, better, which one can you offer or which combination of these can you offer?
For instance, Uber ticks two of the three boxes: faster and better
Netflix unfortunately for its competitors ticks all three boxes.
So, the more boxes you tick, the more disruptive is your business.
Remember, your competitors are also striving to tick these boxes. Heavens help you if they tick all three boxes.
So, work smarter now!
Good luck as you strive to make your business disruptive.
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