I thought this article tied in with our discussion on effectual or entrepreneurial thinking. When we think of companies that have disrupted industries (i.e., Netflix, Uber, Airbnb), it would seem that those entrepreneurs looked at what they knew about the industry, who they are, and who they know, and exploited inefficiencies and dissatisfaction from consumer feedback. The article lays out a framework of thinking for those looking to disrupt an industry which parallels well with our effectual thinking discussion.
- Identify the problem or problems in your industry.
- Work together with others in your industry to solve the problem(s).
- Uncover new ways to approach your already-existing customers.
- Add new customers into your mix of existing ones.
- Discover what else your product can be used for.