Today’s Innovation Minute…
In the first video I introduced the FAST Innovation model: Focus, Ask, Shift, Test
Then I introduced the 5 D’s of Differentiation.
Today I discuss the 3rd D of Differentiation – Disruption-Proof.
Be sure to watch the previous videos!
Transcription:
In the last videos, I talked about why you need to innovate where you differentiate and the five D’s of differentiation. Today we’re going to cover the third D, which is about being disruption-proof.
Your differentiator does not have to be disruptive. It doesn’t have to change the game. But you need to understand that the world is changing around you, and if the pace of change outside the organization is faster than the pace of change within you’re going to be out of business.
Therefore you need to choose a differentiator that’s not going to be subject to disruption.
If we look at the taxi industry, we all know that Uber is starting to disrupt the taxi industry. And we’re seeing the same thing happening almost every single industry. So what you need to understand is, not who’s is your competition today, but who will be your competition in the future.
What are going to be the buying habits of millennials and others that may make your products and services less relevant? Are there going to be new entrants from completely new areas that might disrupt you, and put you out of business?