My View On Disruptive Innovation
By Moyn Islam
People whom we consider as an expert in anything was once a beginner too; never forget that. Every beginner goes through what is known as a learning curve, and it is an essential aspect of growth. When I began my journey in entrepreneurship, there wasn’t one thing that I fully understood, but that didn’t make me any inferior. I knew I was just like everyone else who started first. It took me months, even years, to fully understand what it takes to become my own boss finally.
A fresh new idea for business means it empathizes with our customers and drives for change. Without a doubt, every one of us must surely have that one mind-blowing idea to kick-start a business; I’m sure the idea may seem unique, innovative and even guarantee success. While those are important to run with your idea, let me ask you one question — Does this idea possess the ‘disruptive’ factor? Before you assume what ‘disruptive’ means, go on and read further.
“Disruptive Innovation can hurt if you are not the one doing the disrupting”
— Clay Christensen, American Academic, Business Consultant & owner of the theory ‘Disruptive Innovation.’
If you’re an aspiring entrepreneur with a niche in the tech area, disruptive innovation has to be your motto. The phrase simply means, when you’re a tech startup and hold an idea that’s so strong then it could possibly topple more prominent incumbents from the same industry. While anyone with even minimum technological finesse could crack an innovative idea to succeed, but to dethrone a giant in the market takes more. To start with, it takes timeless hard work and consistent learning. From my experience, it’s best to practice to be an underdog rather than to be an overnight achiever. In fact, there isn’t such a thing called ‘overnight achiever’ in entrepreneurship, and I will give that in writing.
When I first came across ‘Disruptive Innovation’, the most crucial aspect that I learned was those big companies often only concentrate on improving their products or services based on their customer’s demand. On the other hand, startups do better because they study their competitor’s target audience and offer them similar products of services that are better at a much lower price. The reason why these startups are disruptive is that they give the customers something more, something that even they didn’t know they needed it.
Although the concept seems relatively simple, it truly isn’t. To achieve success, especially while competing with the other well-established companies always possess several risks. However, the concept of ‘disrupt or be disrupted’ keeps everyone in the market on the edge. So, put down your ideas and see if they can truly make a difference to the end-users, if they do, then you’ll soon be causing some severe disruption in the market you chose to do business.
My brothers Monir Islam, Ehsaan B. Islam and I established a disruptive startup in the field of artificial intelligence and e-learning. Today it’s grown to become BE, which is empowering millions of people across the globe.