How to Transform Your Disruptive Business into a Successful Business

Technology and society are evolving faster than businesses can adapt and it is having a profound effect on the way businesses are currently run. We are now in an era where standing still means going the way of the dinosaurs, except, much quicker. Disruptive technology such as social media, real-time analytics, the Internet of Things, and wearable technology have changed the way people connect with each other, how they communicate and how they discover new things. As companies look to meet the challenges of these disruptive technologies they are embracing the concept of digital transformation. Digital transformation goes beyond just buying new technology and entails re-wiring traditional business models and their technology roadmaps in order to make meaningful advances in customer engagement and employee behavior.

Listen to your Data

One of the most important things a company can do to remain relevant is to keep a pulse on their industry trends. Being forward thinking helps companies stay ahead of their competitors by being the disrupter and not the disrupted. That usually entails keeping reporting systems running smoothly, up to date and reporting in real-time. As trend changes and disruptions can happen in a blink of an eye, being prepared and able to act quickly is essential to business survival. Companies like Macquarie Telecom specialize in helping companies overcome these challenges with their personalized management tools. These tools give companies full visibility and control of managed services such as networks, applications, and mobile devices which, in turn, grants them much more in depth insight into their business operations and improves productivity. In addition, by extracting and analyzing the data from all parties and departments, management can get a hawk-eye’s view on how each data segment can influence the other. 

Be Innovative and Disrupt

Companies are now operating in an extremely competitive environment so watching your competition’s moves, trying to keep a few steps ahead of the game and retaining market share have always been a priority. So what usually happens? You, as a company, adopt new technologies to improve your position, right? Ok, except that it is exactly the same thing your competitors are already doing and they are probably doing it at a faster rate. Instead of playing the same game as the others, you need to be a game changer to truly get ahead. This is the concept behind disruptive innovation, whereby a product or service is first designed and tested for a different customer base in a new market. The product or service is then improved in ways that the market never expects and proceeds to a relentless climb upwards which eventually lowers prices in the existing markets and displaces established competitors. Wearable technology is an example of how disruptive innovation was achieved by taking the power of a smartphone from your pocket and into your field of vision in real-time. Now you can your data when you need it.

The Customer is Always Right for your Business

Customers act as a great early-warning system where you can get feedback in real-time on what is going on in the market, so being actively engaged with clients is crucial for a business to be successful. Active engagement with clients will reduce the chance of companies pursuing products and services where there is no longer a market. Therefore, having a system like social media where companies can engage with customers, get instant feedback and see what they like or dislike can make a significant difference.

Achieving disruption often means risking having to take a few steps backwards in your business in order to catapult forward. Indeed, it is this concern, the fear of decreased profits and investor disappointment, which often stops companies from adapting. Often, this is the opportunity that competitors take advantage of and cause the disruptions themselves and end up leaving the “safe” companies in the dust. Transforming digitally is not just about making some new revolutionary product (although hey, it helps!) it is about keeping an open mind, and helping companies gain and manage greater volumes with the capacity they already have.

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