Three Tips For Developing A Disruptive Business Idea

Whilst it might sound melodramatic, the disruptors really do change the world.

Offering an alternative way of doing things, they create and alter markets, shattering preconceptions and tired businesses in their wake. As such they’re often rewarded, not just with profits but also acclaim, their ability to envisage and improve industries setting them apart from your ordinary entrepreneur.

Eager to join their ranks? Here’s a few tips for developing  an idea that’ll disrupt…

Seek out the stagnant

Stagnant industries stuck in the past provide an excellent platform for disruption, so seek these out and consider their inadequacies and the ways that they could be remedied.

Take TranserWise for instance, a UK based company taking on the currency exchange market. Having encountered problems in their dealings with the industry they knew they could offer a better product and as such they set about devising a concept that would offer an alternative.

There’s an array of industries ripe for similar disruption filled with companies resting on their laurels, so start by seeking these out and you ought to develop ideas carrying potential.

Crystal ball gaze

Not literally of course, unless you believe in that stuff.

I mean rather sculpt a vision of the future, through the examination of trends and technological developments. Think about how these might play a role in the disrupting of an industry and attempt to create a concept based around these.

Look at Amazon’s Jeff Bezos for instance, one of the earliest dot.com billionaires. He foresaw a growing trend in internet retail and developed a concept to exploit this. Acting early and beating traditional retailers to it he’s created a company that’s a leader in e-commerce.

Think different

It’s no coincidence that Apple used this phrase throughout some of their ad campaigns. A naturally disruptive company it’s the embodiment of their philosophy and reflects what drives all disruption.

With that in mind I’ll leave you with a quote from the greatest modern disruptor, to help you on your way;

‘Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma — which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition…’

Steve Jobs (1955-2011)

This article was contributed by Mark James, Business Writer at online accounting software providers Crunch.