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Business Unplugged™
This blog features Carol Roth's tough love on business and entrepreneurship, as well as insights from Carol's community of contributors.

Disrupt Your Industry — Not Your Customers

Written By: Catherine Morgan | Comments Off on Disrupt Your Industry — Not Your Customers

Carol’s recent post on the Nextiva blog, “Disrupting is Good Business… As Long As You Pace Yourself and Care for Your Customers,” tackles the concept of disruption and how your small business can do it right – and not alienate your existing client base. Carol begins:

By now, you’ve probably heard the term disruptive innovation and you know that disruption has positive connotations when it comes to the future of your business. Jeff Bezos has proven it to the extreme. But, any level of disruption can have a negative effect on your business if your customers are not ready for it — or cannot afford it.

As is frequently said, “Steady as she goes”; done correctly, disrupting does not mean chaos. As long as you are thoughtful and well-organized, you can be the next successful disruptor.

Make sure that you really know the comfort level of your customer base.

Statistics indicate that 84 percent of customers cite innovation as a somewhat or very important factor when choosing vendors for the products or services that they need. Unfortunately, other statistics say that 85 percent of new consumer products fail in the market. If you don’t truly know your customers, then your business could become an unwelcomed statistic.

Let’s say that your data storage device business was founded based on risk-averse baby-boomer customers who like keeping their data in-house. Before you completely stop selling disk-based hardware in favor of switching solely to Cloud service offerings, talk to your existing customers.

You can read the rest of the post here.

Article written by
Catherine Morgan is the founder of Point A to Point B Transitions Inc., a virtual provider of coaching services to individuals who are in business or career transition. She specializes in helping entrepreneurs transition to corporate jobs they love. Catherine is the author of the eBook Re-Launch You: Discovering Your Point B and Embracing Possibility. An experienced independent consultant who was employed by three of the former Big Five consulting firms, Catherine speaks frequently on topics related to career transition, small business, productivity, and mental health. She doesn’t take herself seriously, but takes her subject matter very seriously.