Wed, 21 October 2015
DISRUPT YOURSELF WITH JAY SAMIT
Businesses of any size must be able to adapt to disruption in the marketplace, and some of the most successful new businesses come about because they solve a problem that disruption has caused. No one would disagree with how fundamental the concept of disruption/change is to being successful in business, and yet so many businesses fall down because they are scared of adapting. Jay Samit is one of the world leaders when it comes to disruption in business, having worked with the likes of Apple, Coca Cola, and General Motors. In this week’s podcast he outlines how you could be the next billionaire disruptor and make the same impact as the likes of Ebay, Uber and Amazon.
One of the first points he makes is that only 57 of the original Fortune 500 companies have survived, which shows that however successful and secure a company appear, they can quickly go backwards if they merely stick to what they know. It’s all about spotting opportunities that come from disruption, i.e. Apple’s decision to diversify and manufacture Ipods. And it’s only the spotting of the opportunities that is paramount. If you’ve spotted the right opportunity then the rest can take care of itself. In Apple’s case, all of the parts contained within the Ipod were originally manufactured by other companies – all they had was the concept and the brand. Here are some of the other interesting points to note: Technology is key to winning the game of disruption. For a small business to be able to roll with industry disruption, they must always have a clear idea of where they want to be in 5 years. The “one-world economy” is challenging the way we do commerce. It’s estimated that 40% of current jobs will be automated in 5 years. The current era of technological innovation means that there is opportunity for any individual to compete in the global marketplace. Jay’s book, “Disrupt Yourself”, has been written to show people just how much opportunity is out there for anyone who looks hard enough.
In this episode of Business Brain Food you will learn:
How to set yourself up to become a market leader or even create a market yourself How to take a concept to market which is just an idea The concept of crowd funding How 3d printing is gradually changing the world The ‘sharing’ economy How autonomous vehicles are currently causing disruption The most important thing that Jay will tell you is that some of the most successful companies in the world simply started as an idea – something that solved a problem that we could all identify with in everyday life. You don’t need to be able to develop, build or market the concept yourself – the real money is in the idea. So if you look hard enough at all the problems you face in everyday life, you can make yourself a billionaire just by knowing how to solve the problem that no one else has solved yet!
Resources mentioned in this episode:
** Pace Architects Case Study (http://actioncoachanz.com/architects-case-study)
** Jay Samit on twitter (https://twitter.com/jaysamit)
** Companion workbook (http://www.jaysamit.com)
** Jay Samit’s book, “Disrupt Yourself” (http://www.amazon.co.uk/Disrupt-Yourself-Jay-Samit/dp/1509802886/ref=sr_1_1?ie=UTF8&qid=1445506817&sr=8-1&keywords=jay+samit)
** Facebook (www.facebook.com/businessbrainfood)
** Business Brain Food Facebook Group (www.facebook.com/groups/businessbrainfood)
** Twitter (https://twitter.com/bfewtrell)
** ActionCOACH (http://actioncoachanz.com/itunes)
** ActionCOACH (http://actioncoachanz.com/stitcher)
If you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that! Until next time, have a profitable day. Cheers, Ben Fewtrell