In the epic 1975 movie Jaws, the ominous presence of a shark’s fin cuts the ocean surface.
A young woman leaves an evening beach party on New England's Amity Island to go skinny dipping, only to be dragged back and forth and then pulled under the water by an unseen force.
A short time later, a boy is tragically killed by a shark at the beach.
The boy's mother then places a bounty on the shark, sparking an amateur shark-hunt.
A large tiger shark is caught by fishermen, leading the townspeople to believe the problem is solved.
Unconvinced professional fisherman Quint continues, and uses fishing tackle to try to hook the shark.
Suddenly an enormous great white shark looms up behind the boat, Quint harpoons it with a line attached to a flotation barrel.
With foreboding, the shark pulls the barrel under and then disappears……..
For many executives, the modern lurking business danger is sudden disruptive changes.
Powerful market forces that rapidly diminish your business and customer base.
Disruptions and crushing innovations may seem to appear out of nowhere, if you are not watching out.
In the book called "Big-Bang Disruption" by Larry Downes and Paul Nunes, well-read executives get key lessons on the basic playbook for responding to disruptive innovation.
Potent insights include:
1. Watch out for the Sharks Fins.
No longer are markets, driven by the predictable early to late adopters market cycle.
Rapid onset disruption occurs through fast innovation where the Winner may take all.
There are basically trial users and everyone else.
The Shark’s Fin cycle cuts through markets leaving a swath of destruction behind it.
2. Beware of the Truth Sayers.
There are early warning signs that should be heeded. The ability to see it coming is an essential ingredient for ongoing survival.
Critiques, early market based experiments, low hanging customers jumping ship are lead indicators that your market is being eroded.
Consider these events as "the canary in the coal-mine".
Listen to your truth tellers who may have great clarity, deliver difficult messages and who may be easily mistaken.
3. Watch your blind spots.
Disruptive Market Places will deliver, surprise after surprise.
Seemingly random market events can blindside your business. They can deliver much faster strategy, execution, and more-effective operations.
Watch out for competitors undermining your business with entirely new innovations and go-to-market approaches.
Where are the innovations coming from?
How is it, some companies are able to exit markets, and reinvent themselves so successfully?
Phillips famously exited incandescent lighting after 120 years, completely shutting down operations and then re-inventing themselves into the Health-care market. Almost 10 years in advance of market decline.
Bold action was required to exit, gut a business and re-invent themselves into another market sector.
We all know, the famous Jaws Theme Tune which “grinds away at you, just as a shark would do, instinctual, relentless and unstoppable”
This is what disruptive forces are like on your business.
Kick Start your disruptive planning now to respond to these potentially killer market forces.
Contact Paul Wilson here to turn your great ideas into action.
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