Let’s take a minute to talk about industry disruption. Why does it happen? Aren’t things usually going just fine? The point of disrupting industries is to break them out of a rut. When things are done a certain way for ten, twenty, thirty years or more and you ask why and the response is because that’s how it has always been done, that probably means that industry is due for some serious disruption.
There are problems that need to be solved and concepts that need to be brought into the 21st century. Take a look around. How are things looking in your industry? Are things pretty much done the same way today as they were 30 years ago? Your industry might be next.
It’s a scary thing to think of your industry being disrupted by Silicon Valley, especially if you have been in it for your entire career. But as a business professional it’s always good to understand that change can come at any time so that you can be ready for it.
And deep down you know there are probably some things in your industry that could stand some updating anyway.
Look at the mattress industry. It used to be that the only way to buy a mattress was to go to a mattress store. There were “authorized retailers” and big markups and often little recourse if you ended up buying a mattress that you hated. When you would walk into a mattress store you would get swarmed by sales people hungry for commissions. They probably didn’t always have your best interest in mind when they sold you a mattress.
Enter the world of online mattresses. If you could avoid getting mobbed by hungry sales people vying to make their numbers for the month and just click a few buttons and have your new mattress delivered right to your door, wouldn’t you do that?
Simplifying a complicated situation while bringing down costs is what disruption of industries is all about. There are even online mattress retailers who offer things like 100 nights free in home trials and free sheet sets.
Learn more about how disruption can reshape industries for the better from this infographic. Then take a look around you – is your industry the next industry that is going to need disruption? And are you the person who has the insights to bring that disruption? You could find yourself responsible for bringing your industry into the 21st century!