Disruption of an industry is a big deal for those who do it successfully. If you aspire to make your mark in the world of business you must not solely focus on the bottom line but on innovation. Although disrupting an industry is a noble goal to pursue, it usually comes with ridicule and dismiss from counterparts within your field until you actually succeed.
This article is not advising you to compete with the likes of Jeff Bezos or Elon Musk, but it encourages you to develop the mindset of allowing your start-up to stand out from the crowd by doing things differently and thinking outside the box.
At Rosemont Group Capital, one of our criteria for investing in start-ups is identifying a company’s clear USP, which drastically increases chances of success.
Below are a few tips on how I believe any founder can disrupt their industry and achieve maximum growth:
1. Know your industry
You should not take the industry at face value. You need to do a thorough research in order to know how everything works in the business you are in. This step may require you to attend conferences, networking events, subscribing to trade magazines and to even allocate extra hours searching for relevant information on Google.
To remain in the forefront of your industry, it’s important to make it a habit to find out if the customers are satisfied and if they are well pleased with the products and services in the market. Putting this routine into practice can give you the edge to innovate, find gaps in the market and be steps ahead of your competitors.
2. Know who you are up against
Compete with the best. No matter how small or big your company is, it’s important to identify the companies within your field playing at the optimal level. This will push you to raise your standards and compete at the highest level.
This is a common practice for Fortune 500 companies hence why you have the likes of Samsung and Apple competing for larger market share especially in the areas of selling smart phones.
3. Figure out the problems and challenges
Find out the root cause of the problems and challenges in the industry and dedicate a large portion of your working hours to finding solutions. A first practical step to move in this direction is to write a list of problems you face in your business and questions you needs answers to, from marketing, branding to the logistical function of running your enterprise.
Many successful companies got their first break as a result of solving a problem that was facing other companies in their niche.
4. Bring everyone on board
Behind every successful business is a successful team. The founder of Wal-Mart Sam Walton said it best, “Individuals don’t win; teams do.” If you want to increase your chances of building a cutting edge business you must build a team of experts especially to fill in the area of your weaknesses.
It’s not enough to employ a team but to ensure that they are placing their full capacity on contributing to the growth of company. Incentivize your team to input ideas for achieving the vision of your business. Companies such as Facebook and Google adopt this philosophy encouraging their employees not to solely fulfill the job role but to come up with innovative ideas on how the company can improve.
Make sure you bring everyone on board.
5. Think like a customer
What your customers think about your firm really matters. They are the foundation of your success. You can create as many products as you possibly can but if you don’t have customers, you don’t have a business. Prioritize their needs and interact with them so that you can know if everything is going in the right direction and according to plan. They are the backbone of any business. Moreover, It is quite difficult to know how successful you are or what is ailing your firm from the inside.
6. Stay innovative
Use creative ideas to market your business and stand out as a brand. Many firms now market their products online especially through social media unlike in the past when they used print media mostly. Innovation should not be a one-time thing. It should be continuous so that you can continue improving your business.
The most important advice I can give you is to be alert and stay focused on your goal. If you follow those steps keenly, there is no doubt your product or service will be a game changer in your industry. Disrupt it, stay innovative and let nothing stop you.
About Freddie Achom
Navy Veteran Davis Chris Takes the Music Industry by storm
In life, you need to break down anything that might be holding you back and change course if need be...
5 Disruptive Leaders Paving the Way in 2021
Where there is uncertainty, lies a whirlwind of opportunity. 2020 was the year that had entrepreneurs learn a great deal...
Brock Pierce Wants To Disrupt The Two Party System And Be Your Next President
We don’t usually cover politics much here at Disrupt, but when Crypto billionaire and friend of the show, Brock Pierce...
John Mcafee – Predictions For The Future
John McAfee is a world-famous tech CEO, computer scientist, civil disobedience activist, privacy advocate, and pioneer of the commercial anti-virus...
Gaby Wall Street – Teaching Latinas to Thrive During The Crisis
It’s no secret we are facing one of the most challenging financial times of the last few decades as we...
Tony Delgado – The #1 Entrepreneurship Movement In Puerto Rico
Puerto Rican online market is in constant progress. With many entrepreneurs who are coming here to start a business, it...
Elena Cardone – The 10X Ladies Conference Is Declaring 2020 The Decade For Women
The next ten years are meant for women to continue growing their potential and succeeding in multiple areas, including business....
How Josh Elizetxe Built Snow Into a $40 Million Dollar Business
There is nothing quite like an entrepreneur’s determination when starting a business. That’s my original quote by the way (pun...
How Jason Capital Became A Self Made Millionaire By 24
Have you ever wanted to earn the respect of everyone who ever looked down on you at some point in...
Sam Bakhtiar On His Way To A Quarter Billion
Dr. Saman Bakhtiar, who prefers being referred as Sam, lives in an 8200 square foot $5.2 million house, Sam is...
Women Who Disrupt4 days ago
Fashion Designer Ugochi Iwuaba Talks About Her Brand and Designing a Gown for the Met Gala Red Carpet
Entrepreneurship5 days ago
Liz Ashley – A Wonderful Businesswoman Inspires to Enhance the Natural Beauty of the Human Being
Press Release1 week ago
Roseon Finance Partners with Social Betting Platform Bettery
Entrepreneurship1 week ago
Jesse Mauck, Leveraging Credit To Exponentially Grow Your Business
Executive Voice2 weeks ago
GiftyOware-Aboagye is a Daring Female Entrepreneur Disrupting and Shaking Industry Tables in Ghana
Executive Voice2 weeks ago
Why Dakota Burford Is a leading funnel & sales expert
Executive Voice2 days ago
The Black Air Bender’s “Alchemy Breathwork” Proving Beneficial In A Holistic Manner, Intensifying Brain Research.
Diversity in Tech2 weeks ago
Mixed Reality Applications in Industry 4.0