This article is written by Brian Malika, a Contributor Author at Startup Istanbul.
Sam Mallikarjunan is the former head of growth at HubSpot Labs, he led the company’s marketing expansion into Latin America and oversaw the team that built a new market in e-commerce for the world’s #1 sales and marketing platform. The author of the book How To Sell Better Than Amazon, Sam is an adviser and consultant to companies all over the world. He currently leads ReadThink.com, HubSpot’s new executive strategy publication. He was present at Startup Istanbul 2016 where he gave insight on customer experience.
Innovative competition is evolving at the speed of light. In fact, research shows that an innovative business idea that is on top of the game today has exactly 5 years to be irrelevant. And at the same time, a start-up that is trying to survive to be on its feet today might be the much sought after global shaper in the next five years.
The reality is that new technology is evolving at a rate that has never been experienced before in the history of innovation. Every new innovative approach that you see today was never anticipated in the last five years. And to help you better understand this phenomenon of disruptive innovation, I have dedicated this article with a top-notch piece of advice from the leading gurus in this particular field.
It is my hope that after reading this article you will have the basis to imagine and also anticipate which part of your enterprise needs to embrace new forms of disruptive innovation. I hope you will learn something new today starting with my next paragraph below.
How To view Disruptive Innovation
First of all, the core of Principe of nurturing the ability to navigate in the era of disruptive innovation is grounded on an innovator’s ability to continuously develop a strong culture of working with the customer. Being able to offer new business products that a receptive to the ever-changing needs for your target customers is what separates the survivors from the failures who are competing to do business during the era of disruptive technology.
Never at any point of your business thinking perceive that innovation is catching up with the latest trends being showcased by your competitor. Yes, I understand its important to keep pace with your competitors so that you can maintain good market sales to stay in business, however, go ahead and ask yourself what exactly do your customers require from time to time in order to better their experience with your product or service. By doing so, you might end up coming with a game-changing innovation that is a thousand times better than what your competitors are using.
Again, do not relax whenever you discover an innovative technology to better your customers’ experience, lest you get disrupted out of business by someone else.
What to keep in mind
In case you’re wondering why is the business environment getting uncertain at this time in history while in previous times things were rosy, then you need to understand that the world is entering into the digital revolution. This is a period where digital elements will be embedded in every form of our social life including the way business is done.
The fact that the digital revolution is an era that has never happened before in the history of mankind, it becomes very hard to predict the next trend of innovation to take place. So, the only way to keep up with the digital tides is to develop a strong relationship with your target customer in a continuous manner so as to understand how to frequently better their experience with your products and services and how best you can improve the same through disruptive technology.