Disruption, often viewed as a threat, can be a catalyst for business growth. Uncover three innovative strategies that companies can employ to harness the power of disruption, turning potential challenges into opportunities for expansion and success.
Shift Your Mindset
A simple shift in mentality can mean the difference between slipping further into difficulty or rising to new heights.
- When faced with a challenge, do we see it as a problem or an opportunity to learn and grow?
- Embracing the latter perspective doesn’t always come naturally, but with practice it can be a crucial business advantage.
Investigate and redefine customer experiences
Disruption inherently causes shifts in customers’ behaviors and expectations.
- Whereas businesses with a “fixed mindset” tend to focus only on the immediate, negative effects, those with a growth mindset will treat disruption as an opportunity to define new customer needs and proactively solve for them.
Update your business strategy
Disruptions may come in the form of viruses, new technologies, or upstart competitors. Their common denominator is change, and that change can affect both the basis and feasibility of a given strategy.
- While a company’s service mission may remain the same, its specific plans for accomplishing that mission should be regularly updated to reflect current possibilities.
The bright side of disruption
There are numerous ways for companies to leverage disruption in their favor
- Three clear examples of strategies from which all companies can benefit emerge when we look at the most fundamental aspects of business growth
- Value proposition
- Profitability
- Customer satisfaction
Final words
Disruption causes the future to feel uncertain but inevitably produces net positive gains within markets and economies. With these come opportunities for individual companies to grow and adapt.
Adopt a human-centric approach to business
To manage the effects of disruption in an opportunistic way, leaders should examine what they mean for everyone in the organization
- In doing so, they can identify areas – including employee well-being, customer relief or partner loyalty – in which a heightened focus may yield exponential results
