No one ever said the hands of time could only go backward.
Sure, we have to know where we came from to figure out where we’re going, but shouldn’t we also be pushing the envelope; coming up with the next great idea? Instead of wondering “what happened” wouldn’t it be great to discover the new concept everyone is talking about and to have your company stay relevant in an ever-changing world?
Questions we ponder:
- When did it become alright to sit back and think the one idea you came up with would be forever sustainable?
- Should we constantly be striving for something better, something innovative, something new and different?
Disruption is inevitable. It is not about WILL it happen to your business; but rather WHEN. And more importantly will you be prepared? This is a great article in Forbes (it’s a couple years old, but still relevant) about disruption.
What industries are predicted to be disrupted the most in the near future?
Well according to Inc. magazine they are forecasting disruption for these:
- Mobile banking
- Live sports
- Real estate
- Athletic equipment
Let’s consider one industry that is crying in their soup over a major disruption to their industry… taxis. Consider how much the livery industry has changed since companies such as Uber and Lyft showed up on the scene. A recent Boston Globe article (8/14/17) said, “Taxi business at Logan is down 10% since Uber, Lyft began picking up fares.” Makes sense, since many people feel it is so much easier to hop on the cell, pull up an app, and order transportation. It even says when they’ll be arriving to pick you up and you can watch their progress. For many, including our Inspired Marketing team, it gives us a greater piece of mind than randomly walking down the road and hoping to run into a taxi; especially knowing Uber and Lyft have put measures into place to background check drivers.
Should the taxi industry be boo-hooing?
We think not. We believe if you have a viable business model today you should be planning for tomorrow (and next year… and 2040!) The question then becomes… how? There are MANY things to consider. We think this article from The Economist does a great job going in depth. A couple high-level things to consider:
- It’s not always technology that disrupts.
- What strategic alliances can you form now?
- Is there a way to foster disruption in your business; make it less scary?
Driverless Cars – Disruption 101
One specific disruption we believe companies, even those in Western MA and Northern CT, should be keeping an eye on is driverless cars. Again, it’s not if, it’s when they will be on our local roads. Driverless cars will inevitably affect the world of livery (plan now Uber and Lyft), but what other industries will feel the effect? Thoughts we have include tractor-trailer drivers, bus drivers, hotels, parking, and the list goes on; may all be out of work and searching for jobs. A flip side may be for careers such as police officers, childcare workers, and personal care aides could see increased productivity. Now being able to do paperwork or make phone calls while driving because “someone else” is doing the driving. We believe driverless cars will dramatically disturb our work force; some for the good and some for the bad.
We believe local companies need to consider these factors, not only for their employees who need the jobs but for their company to stay relevant. Think outside the box. Think one, two, three steps ahead of the competition. This is how you stay ahead of the curve. This is how you keep your company at the forefront and how you keep moving forward to stay top-of-mind in today’s ever-changing world.