What’s the Latest Development?
Michael Raynor says successful business needn’t be a game of chance. The business author says disrupting industry with new and innovative ideas is a teachable skill that can be implemented according to a plan. “The framework I’m suggesting is Focus, Shape, and Persist,” says Raynor. “Focus on the disruptive, shape them, and then stick with it. The claim is you will have a greater likelihood of success.” In his role as teacher, Raynor is set to disrupt the prescription to ‘fail fast’. Instead, he recommends that entrepreneurs ‘learn fast’.
What’s the Big Idea?
Today, the key to disruption, says Raynor, is technology. If you possess technology that allows your company to operate in fundamentally different ways than the ones already in your industry, you’ll effectively disrupt that industry and your business stands a better chance at succeeding. “In tech, we see disruption happen so fast, because the enabling technologies move so fast that you can see the disruption happening in front of you. How quickly you disrupt is a function of the technology today. If you want to disrupt quickly, you should focus around those technologies that move the fastest.”