It’s easy to say your company aims to shake up its industry. But are you taking the steps you need to follow through?
Disruption is the goal of most entrepreneurs. It’s almost a cliché: You recognise a need in the marketplace, you come up with a solution, and you set out to solve it as powerfully as possible. If you have to rattle the business models of a few incumbents in the process, well, that’s what entrepreneurship is for.
The only problem with disruption is, it’s easier to talk about than actually to do. We’re not perfect, but when I look at what we have accomplished, I’d break our path down into five steps that any business could follow:
Step 1. Identify a big problem
What pain point is your company solving? Are you simply taking an existing idea and improving upon it? Or are you figuring out something that no one else has? As you answer these questions, be as specific as possible. At a minimum, your concept of the problem should address the cause (what the incumbents in your field are doing or have done historically), those suffering the most from the problem (the sweet spot of your market), and others who are trying to solve it (your competitors).
…to read this article in full, visit leading US small business resource, Inc.