FIND THE GAP IN THE MARKET
May 31, 2023
Every business is under threat today.
It's no longer innovative or die.
It's disrupt your own business before someone else does.
Entrepreneurship isn't just about starting a business from nothing...it's also about ensuring it doesn't turn into nothing.
There are two things you need to be mindful of:
- Who will put you out of business
- How will you be put out of business
Firstly, be mindful of who you think your biggest competitors are...it might surprise you where the Disruption comes from.
Three of the biggest disruptions in the last decade (Uber, Netflix and Airbnb) weren't started by people in those industries...they were started by pissed-off consumers who found a gap in the market that wasn't being met by all the big players already in the industry.
"Pissed-off consumers are your new competitors." - a Clarism
Secondly, you need to put yourself out of business.
I can hear the internal dialogue now...
"Wait! What? Put myself out of business?"
Yup.
"Put yourself out of business before someone else does it for you." - a Clarism
When you put yourself out of business, you are just putting your old way of doing business out of business. If someone else comes along and puts you out of business (or takes significant chunks of your market share from you)…you are out of business.
Your choice.
As Buckminster Fuller said...
"If you want things to change, don't fight the existing reality. Create a new model that makes the old model obsolete."
Dave Clare, CEO & Founder - Circle Leadership
WEEKLY CLARISM
Please see above...you get the point.