We’re living in an age of disruption. Companies like Uber and Lyft turned the transportation industry on its head, while artificial intelligence is doing the same for the brick-and-mortar retail world.
It’s a time of change and growth. And the only thing that’s predictable anymore is that nothing is predictable anymore.
For business owners, that can be pretty scary. It basically means that no matter how long a brand has been around, how much business it’s done or how much it’s loved by customers, there’s no longer a guarantee of success.
At any time of any day, someone – or something – could come in a change the game, and all past assumptions go out the window.
So what can you do?
Do you just sit back and wait for the impact? Or is there something you can do today – right now – to help protect your brand for potential disruption?
No matter what industry you’re in, lying down and rolling over for the new guys isn’t the right option. Here’s what you can do to stave off disruptors and protect your business in the age of constant change:
- Don’t want disruptions to catch you off guard? Then try to predict them. Put together a team of your most creative, innovative, outside-the-box thinkers, and ask them to simply brainstorm. What are the craziest things that could happen in your industry? What amazing things – if there were no financial, geographical or technical boundaries – would they want to see your company do or produce? Tell them the skies the limit, and see what they come up with. Odds are, even their most far-fetched ideas are already in the pipeline somewhere on the globe.
- Tune in. Stay apprised of what your market wants. That includes what they want from you and your products, as well as just what they want in business, love, and life in general. Find new ways to deliver on these desires, and evolve as the market demands. Better yet, evolve before the market demands. Give your customers what they want, before they even know they want it. (Great ways to tune into your customers: social media, surveys, interviews, polls, focus groups, customer think tanks.)s
- Disrupt. If you don’t want disruptors to hurt your business, become the disruptor yourself. Be the one who takes your competitors down a notch and catapults your industry to a new level that customers never imagined. Hire innovators and thinkers who can push your products and services to the limits, and never be satisfied with the status quo. Work outside the box, kick conventional ideas to the curb and don’t ascribe to it-worked-before-it-will-work-again model of business. Make constant evolution a mainstay of your organization.
You never know when disruptions will hit, so start taking steps today to protect your brand from potential disruptors in the midst. Need help? Want to be the disruptor in your industry? Contact Haley Brand Intelligence today.