The age of business disruptors is well and truly upon us with entrepreneurs behind Facebook, Airbnb, Pintrest and Houzz leading the pack.
So, what does it take to make it from forward-thinking start-up to market leading force? Here are 5 steps for succeeding as a disruptor…
Do your research
Even if you’re a lone ranger or a small organisation it’s crucial to put time and resource into R&D. You don’t need a whole department to experiment with your product or service. Small experiments can turn into successful disruptive ideas. Get family and friends involved and buy in time if you can afford it. Did you know that Twitter was conceived through a hackathon at a podcasting start-up called Odeo? Solid research forces you to be honest with yourself and those around you about your venture – you can’t argue with the facts. Being realistic will keep you ahead of the curve.
Choose the right time
Good timing is not just down good luck. It’s worth waiting for the right market conditions, production circumstances or technology. A great example of biding your time to maximum effect is Amazon’s Kindle. The business didn’t rush to be the first to market but waited until the technology matured to ensure it was the best.
Prepare for success
The last thing you need is to have a sudden demand for your product or service that you are not prepared to meet. Success can often come at the least expected time and knock you off your feet if you’re not ready for it. That’s why such a rise in fortune is referred to as a catastrophic success. An example is the downloadable game Angry Birds. In the first 24 hours of being available on Android devices it was downloaded over a million times. That number could have been even higher if the developer’s server hadn’t crashed! Don’t let a lack of preparation stand in the way of maximising your success.
Visualise yourself as a winner
Visualisation is not just for successful sports stars! The first step to achieving anything is believing you can do it. This is particularly important to a disruptor as you will be treading unchartered waters. Your positive visualisation should influence those around you making you a powerful force.
Quit on a high
Saying bye-bye to your baby may be the hardest thing you’ll ever have to do but no matter how successful you are you will be susceptible to disruption yourself. To stay alive, you need to anticipate those threats and have the guts to get out at the right time. You can then concentrate your efforts on securing the next hit!