Author Post: What Disruption, Innovation, And Listening Have In Common

What is the first thought that comes to mind when you hear the word “disruption?” My brain immediately flips to the brands that have made a massive impact in their respective markets—Apple, Netflix, Uber, Tesla. These are examples of brands that created a new category (disruption in its own right) or created massive upheaval in an existing category.

Understanding what happens when markets are disrupted perfectly illustrates why existing companies must never stop chasing and developing products for prospects while continuing to enhance the products and services their current customers’ value. 

This is why innovation must be a constant, not something done in fits and starts. If you fail to evolve continually, you will be upended, disrupted, and ultimately lose.

Now, to be clear, there was undoubtedly a time when the business moved so slowly that companies could comfortably (and profitably) do what they did, day after day, year after year, for decades without changing much. But when we look at those companies now—and their numbers are dwindling—it’s easy to see why hanging your hat on a particularly profitable product is the same as inviting someone to turn your market upside down.

And not in a year or two, but a month or two. Consider the changes roiling the so-called Big Three automakers in America. Since the economic meltdown of 2007–2008, those changes have been profound. The resulting $80 billion government bailout of all three floated them through that crisis, only for them to meet a brand-new disruption: ride-sharing.

Three of the world’s top automakers are promising to perfect driverless technology in the next few years, largely to compete with those disruptors named Uber and Lyft. Those companies, in turn, have disrupted the taxi business in cities all over the world. But – had Uber and Lyft not forced their hand, would these automakers have turned their attention towards driverless technology? Maybe. Maybe not.

Disruptions like these are the rule, not the exception.

If your company is more of the B2B persuasion, don’t be lulled into thinking you won’t face similar challenges only because you are not dealing in consumer products. The ubiquity of technology has increased the rate and pace of change across every industry, only increasing disruption opportunities. But there’s a solution, and your sales force is calling on it every day of the week.

Disruptors tend to be people who talk to prospects—those who aren’t buying existing companies’ current offerings—and who develop fresh ways to solve prospects’ problems. In other words, you’re already getting the intelligence you need to stay nimble. The problem is you’re not collecting and applying it.

That’s because existing companies talk to their prospects from the perspective of what the company already offers. Their sales folks are so caught up in trying to convince prospects that their solution can work for them that they miss the prospect’s complaint: “Yeah, but it could be so much better!”

And so the existing company is stuck, trapped in the logic of, “This is how we do this. This is how we’ve always done this. We’ve just got to make it better and better and better.” What they should be thinking is, “Wait. What if we just threw out that whole paradigm and came in with a new one that provides the answers our prospects are begging for?” Your most challenging prospects, not your existing customers, will almost always drive new product development, particularly of the disruptive kind.

But you have to be listening—and listening to the right voices.  

To build the best brand, one that will stand the test of time no matter who else enters your market, you must not only focus on keeping your current customers happy and set up for success, but you cannot ignore your prospects. They bring a valuable new perspective, one that could help you decide for sure that the shift in the direction your executive team has been belaboring around the board room table is the right shift to make. Disruption can be intimidating. It can also be exciting and bring new energy and business to your organization. Don’t shun it; welcome it.