A Quote by Dinesh Paliwal
Whether you lead an early-stage startup or a well-established company, it is critical to challenge yourself and your team to prepare for the next disruptive force - be it a shift in the market, a new consumer trend, or a competing innovation.
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The principles of disruptive innovation are indeed intended to be guidelines to assist managers both in introducing disruptive innovations as well as identifying disruptive developments in their market.
Innovation is not a big breakthrough invention every time. Innovation is a constant thing. But if you don't have an innovative company [team], coming to work everyday to find a better way, you don't have a company[team]. You're getting ready to die on the vine. You're always looking for the next innovation, the next niche, the next product improvement, the next service improvement. But always trying to get better.
A disruptive innovation is a technologically simple innovation in the form of a product, service, or business model that takes root in a tier of the market that is unattractive to the established leaders in an industry.
Sustaining innovation is the lifeblood of any enterprise. It is the time when we capitalize upon, and recover from, all the disruptive change prior. Most of the operating profits in the world come from sustaining innovation. Much of the market capitalization gains, on the other hand, come from disruptive innovations.
It's very important as a startup to get early press because, although it may not be a large number of people, having a 'Fast Company' story - some of those people that read it are going to be your next employees and hires, your next investors.
If a company truly wants to resolve the innovator's dilemma, it does need to be able to create wave after wave of disruptive innovation. And those disruptive innovations will typically grow to the point where they do cause some pain for leading companies. But most disruptive innovations create substantial new growth before they cause that pain.
If you are a new startup company, try not to arouse the interest or suspicion of your competition; especially if they are a bigger company. They can crush you while you are still in your startup phase. Lie low while still strengthening your bottom line.
If you do the same thing as others, it will wear you out. Nintendo is not good at competing so we always have to challenge the status quo by making something new, rather than competing in an existing market.
The market being in a trend is the main thing that eventually gets us in a trade. That is a pretty simple idea. Being consistent and making sure you do that all the time is probably more important than the particular characteristics you use to define the trend. Whatever method you use to enter trades, the most critical thing is that if there is a major trend, your approach should assure that you get in that trend.
A P2P business is a company that creates a platform which allows individuals or 'peers' to directly buy and sell from each other. This activity has sometimes been called the 'sharing economy.' Some are wary of these new companies and the challenge they pose to the established market.
The personal computer was a disruptive innovation relative to the mainframe because it enabled even a poor fool like me to have a computer and use it, and it was enabled by the development of the micro processor. The micro processor made it so simple to design and build a computer that IB could throw in together in a garage. And so, you have that simplifying technology as a part of every disruptive innovation. It then becomes an innovation when the technology is embedded in a different business model that can take the simplified solution to the market in a cost-effective way.
Every new startup business creates new opportunities. It doesn't matter whether you have a new app for college students or a home medical device for senior citizens; there are other multibillion noncompetitive corporations that are spending millions of dollars trying to market their goods and services to your same audience.
The biggest challenge is to build the team and start the company, while hiring people, raising money, building a brand which has no history, all at the same time. You're doing a lot of things that in an established company are already done.
Designers are by nature more inquisitive, more connected. They dig a little deeper in terms of insights. They turn those insights into innovation. That connection to the consumer is absolutely critical in driving innovation. It’s critical that design isn’t subjugated to the back room as a short order cook for marketing or for merchandising or sales. It has to be up front.
Separation, I think, in an early-stage company or a startup environment is not a good thing. You need to basically live and breathe the entire environment.
Understand this - as a new company, if you don't know how to get interested prospects into your company, then you don't have a company. At the same time, if you, as a owner, have to drive every lead into your business, then you need a real lead generation strategy.
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