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Peerview Data Insights

Beware the Silicon Valley Surprise!

Will your company still be in business a few years from now? 

Start-ups aside, most business owners and executives will answer "yes" and then chalk it up to strong growth, good margins, talented leadership, dedicated employees, the fact that the company's been in business for decades, etc.

All of which may be true.

Unfortunately, all those assumptions are grounded in the belief that momentum and trajectory are fixed — not 100%, because any company can stumble, but enough such that the average company can expect to do as well tomorrow as it's doing today as long as it just keeps doing what it's doing.

Maybe once upon a time that was the case, but not now.

The new reality is this: there isn't an industry anywhere that's more than one Silicon Valley surprise away from being disrupted.

Think Uber.

Think Netflix.

Think Tesla.

Think Airbnb.

Think Zenefits. (Pre-scandal.)

And then think about an upstart within your industry that's just about to launch with some product, service or approach that you dismissed as unworkable, delayed as impractical or just didn't think of yet.

How do you compete against an unknown like that?

You don't, not until it happens but you do prepare for it by focusing on two things:

  1. Strength
  2. Flexibility

Most disruptions don't render entire industries obsolete overnight; introducing something new and convincing customers to adopt it takes time. 

Because the first to fall victim as a disruption scales are usually weak companies that are blindly-managed, if you're constantly looking for ways to improve your competitive performance — by leveraging your strengths, strengthening your weaknesses and seizing your opportunities — you're less likely to get picked off early, giving you time to marshal your resources and figure out how to fight back.

Or pivot.

As Steven Sinofsky of Andreessen Horowitz points out, disruption takes off because "incumbents continue along their existing and successful trajectory, unknowingly sealing their fate."

This is where flexibility comes in: when you can't beat em, you have to "join 'em" by doing someting you haven't done before.

It could be something new.

It could be something different.

It could be something better.

It could be something faster.

It could be something cheaper.

It could be something cooler.

It could be something cleaner.

It could be something easier.

The point is that whatever the "it" is will require you to change.

Fortunately, the same agile, questioning, externally-focused mindset that makes you strong makes you flexible, too, so you can do this more efficiently, putting you in a position to not just react to whatever product, service or approach is shaking things up in your industry, but to be the disrupter that introduces it.

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Topics: Money People Customers Planning & Forecasting Competitive Analytics KPIs Business Performance Small Business Disruption