Teach A CEO

16 Entrepreneurs Define The Term Disruption

What comes to your mind when you think of disruption or being a disruptor?

Some define it as coming up with a new product or different way of doing things.

Here’s how entrepreneurs and business owners define innovation and disruption;

#1- Alter and transform innate processes

Photo Credit: Darshan Somashekar

When I talk about disruptive businesses, I'm referring to businesses that alter and transform innate processes and systems. Businesses that employ tech layers to build solutions that better solve individual and collective concerns. The goal of disruption is to improve the user experience. In every situation, this is the case.

Thanks to Darshan Somashekar, Freecell-Challenge!

#2- Taking risks

Photo Credit: Mike Dragan

Although the terms ‘innovation' and ‘disruption' are frequently used, few entrepreneurs, in my opinion, have the courage to put them into practice in a significant way. Taking risks that others in your sector aren't willing to take leads to disruption. Now, taking a chance does not imply abandoning caution. When we try something new, we plan beforehand. We established objectives, boundaries, and timeframes for evaluating the outcomes of our new projects. Many of them are hopeless. However, the successful ideas have aided us in making significant progress as a corporation. Overall, disruption is a strategy that must be implemented consistently over time in order for a company to be successful. To be managed, that practice must be measured. It's not innovation if it doesn't keep you up all night.

Thanks to Mike Dragan, Oveit!

#3- Getting out of your comfort zone

Photo Credit: Amit Raj

It's all about being comfortable with being uncomfortable, getting thrilled about the disorder, and embracing conflict when it comes to disruption and innovation. Without much knowledge or advice, you must push yourself outside of your comfort zone. In many cases, there is no well-developed or well-designed blueprint for developing a concept, idea, or business. Because of the unknown, plans are extremely essential, but the ability to learn, adapt, and pivot in real-time is much more valuable. This is how we come up with new ideas and opportunities. Being the first to attempt something is exhilarating, but it's also uncomfortable, and that's where you can shine. Learning from failures is an important part of innovation. Our team is encouraged to experiment with fresh concepts and ideas in order to come up with novel solutions. Our people are our most precious asset. Problem solvers are the type of individuals we want.

Thanks to Amit Raj, The Links Guy!

#4- Several definitions

I recognize disruption as a refreshingly new opportunity to create a better future for more than one side of the story. To me, disruption is breaking the box, exiting the room the box was in and walking outside to a limitless environment when addressing how a problem needs to be resolved. Disruption, especially a positive disruption, creates energy, opportunity, hope, philanthropy, solutions and actionable kindness. Disruption allows for a new diverse set of speakers to enter the room when it comes to problem-solving. Disruption breaks the expectation, acknowledges a reality, rearranges the qualifiable items, reassesses the priorities and reinvents a way to achieve the greater goal.

Thanks to Angelica Prescod, Edward Jones!

#5- Market entrants with non-traditional business models

Photo Credit: Kristin Stump

When it comes to business strategy, disruption refers to a process in which market entrants arrive with non-traditional business models, and what appear to be poor-performing products at first, eventually challenge and replace industry leaders. As a marketing manager, I described disruption as the process through which an underappreciated or unanticipated product or service gains enough traction to replace or displace a more established product or service on the market. If you've ever read an article or thought about a piece of popular new software, app, or tech-based product that has lately exploded in popularity, you've probably heard it described as disruptive.

Thanks to Kristin Stump, My Enamel Pins!

#6- Shifting consumer behavior

Photo Credit: Alex Moss

In business, disruption is the process of shifting consumer behavior away from existing products or services to new solutions. This shift is typically led by an innovation that stirs an entire industry into new modes of consumer behavior. For true disruption to occur, the product or service in question must be significantly better in terms of functionality, price, distribution, or experience.

Thanks to Alex Moss, Tactical Arbitrage!

#7- Growth for an opportunity

Photo Credit: Ed Leake

When you're on the search for disruption, you will undoubtedly come across prospects for growth. These new sales products, markets, and channels can help you optimize your business and generate more money, even if they don't qualify as truly disruptive innovation. It will also improve my client satisfaction. Any company's goal should be to turn its clients into enthusiastic fans. Attending to your customer's needs has two advantages: you'll find possibilities for disruption, and your customers will be happier.

Thanks to Ed Leake, Adevolver!

#8- Developing solutions

Photo Credit: Michael Hennessy

Disruption occurs when innovation that is seemingly insignificant at first overtakes conventional products or services. No one expects these disruptions because the innovations typically start with lower gross margins and a smaller target. They slowly rise to popularity before they end up opening a new market. To protect your business against disruptors, you must develop solutions that challenge these new innovations. As long as you keep up with the changing market, your business will continue to prosper.

Thanks to Michael Hennessy, Diathrive!

#9- Reset of the status quo

Photo Credit: Craig Hughes

Disruption is a reset of the status quo due to innovative technologies. These are radical changes on how business is made. Before, all transactions were done through cash and cheques but due to the disruption brought about by digitalization, we now have cashless transactions which has become the new status quo. This is going to continue so long as there is innovation and new technologies are introduced.

Thanks to Craig Hughes, FindBettingSites!

#10- Creative destruction

Photo Credit: Aidan McCarty

It’s the process of tearing down and rebuilding an industry by identifying and meeting unmet needs. To me, disruption is an overused word for a profound idea in business and in life. It’s an inevitability. Poor designs and inefficiencies are cut out over time in a Darwinian process of selection. It’s not a linear process, and at times it looks chaotic if you zoom in too closely. But in the limit solutions that maximize efficiency prevail. To me, disruption is the natural process of new innovation undermining legacy solutions — twisting or even inverting ideas of how business is done and life is lived to make it more efficient and more effective.

Thanks to Aidan McCarty, Unum ID!

#11- Replacement of a leading firm

Photo Credit: Issac Roberston

Disruption has various meanings, considering the context and its usage. In most cases, disruption means the replacement of a leading firm in the market by another firm. The disruption is attributed more to the creative aspects of the market. This phenomenon cannot be foreseen as the competitiveness in the market is intense, and there is always scope for unpredictable disruptions.

Thanks to Issac Roberston, TotalShape!

#12- Runner-ups' business models

Photo Credit: Brandyn Schwalm

Business disruption is heavily linked to the concept of disruptive innovation because disruptive products and services appear when companies use an unconventional approach to business and market innovation. Established companies strive to improve their products and services for their existing profitable customers, using a traditional method referred to as sustaining innovation. And disruptive companies use innovative business models to make expensive or sophisticated products and services accessible and more affordable to new or bottom-tier customers. As a result, disruptive companies have the potential to change or entirely displace existing companies and industries.. But business disruptions don’t happen overnight. For example, it took Wikipedia 11 years until they overthrew Encyclopedia Britannica.

Thanks to Brandyn Schwalm, The Local House Buyers!

#13- The ability to analyze and take strategic risks

Photo Credit: Zarina Bahadur

In my experience, few executives are willing to tackle innovation and disruption in an actual, meaningful way. When an industry or market is disrupted, it is completely reshaped or changed. Over time, industries become obsolete, which is one of the biggest problems. However, the power and influence of disruption keep them alive long after their viability has passed. Disrupters fill a much-needed void in the market by providing solutions that were previously unavailable. It is all about embracing conflict, being comfortable with discomfort, and becoming comfortable with chaos in order to disrupt and innovate.

Thanks to Zarina Bahadur, 123 Baby Box!

#14- Change of reality

Photo Credit: David Attard

Anything that significantly alters the reality of people's everyday life is disruption. This could be in the form of technology like e-commerce or GPS that changes how we live, or it could be in the form of war/civil unrest. Disruptive technology has revolutionized the relationships between customers and industries and the world we live in. Disruptive technology is almost always risky, yet when delivered it changes everything.

Thanks to David Attard, Collectiveray!

#15- Seizing the moment

Photo Credit: Deborah Sweeney

I would define disruption as seizing the moment to improve and grow when change and challenges happen. This is the time for entrepreneurs and business leaders to be innovative, aware, and strategic. Great disruptors identify new areas where they may learn and grow and use their downtime to think and create. This allows for business leaders to maintain nimble flexibility, which will be extremely beneficial when the next normal happens. These leaders will emerge more aware and ready to hit the ground running with innovative and strategic ideas to improve all areas of business and life.

Thanks to Deborah Sweeney, MyCorporation.com!

#16- Two definitions

Photo Credit: Lauri Kinkar

For me, disruption is changing how business is done and creating a product that changes the future. Disruption doesn't have to be an exceptional innovation, but it should be recognizable enough for people to feel that the difference you made is exactly the one that they need at the right moment. To create disruptors of your own, build for the inevitable truth. Study your industry and according to trends and data, see where the industry would lead in the future, and focus on your efforts in preparing your company to adapt to the inevitable change when that time comes. Be careful of your timing in launching your breakthrough product because timing is everything.

Thanks to Lauri Kinkar, Messente!

How do you define disruption? Tell us in the comments below. Don’t forget to join our #IamCEO Community.

Mercy - CBNation

This is a post from a CBNation writer. CBNation is a Business to Business (B2B) Brand focusing on increasing the visibility of and providing resources for CEOs, entrepreneurs and business owners. CBNation consists of blogs(CEOBlogNation.com), podcasts (CEOPodcasts.com) and videos (CBNation.tv). CBNation is proudly powered by Blue 16 Media.

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