There are many examples of how established businesses are being challenged by new ways of doing business.
Don’t think it’s only big businesses that are affected!
Did HMV see what was happening in the music world or did iTunes, Spotify and other download platforms take it by surprise? Where does your business sit in this world?
Here are three short interviews I did with people who are radically disrupting the status quo in their business sector:
Faisel Rahmen of Fair Finance has taken on the banks, the pay day loan companies and the door step loan sharks and is getting spectacular results. Starting with the 7 million people who don’t use banks as their major source of financial help, those who have bad credit or no credit rating, Faisel has proved that his model works and is set to expand beyond London and into other major cities as well as creating new products for both personal and business finance, making a huge difference to the lives of many people.
Luke Lang of Crowdcube has taken the world of business funding and shaken it up – a lot! Instead of going cap in hand with complicated business plans to banks or groups of angel investors or venture capitalists you can now put your idea onto the Crowdcube site and see if you tell a good enough story for investors to – literally – buy into what you want to do.
The Crowdcube platform has raised over £12,000,000 from small investors into UK business to date with 15% of bids reaching, and in many cases exceeding, their target.
Clive Rich of Lawbite has devised a radical way give small businesses access to the law with affordable and transparent fees. The basic pack of plain language contracts costs just £99 and provides a way for both parties to the agreement having access to the drafting process. There is a also a virtual law firm available at the touch of button to give advice. Lawbite has already had a huge vote of confidence by raising £460,000 on Crowdcube – £100,000 more than they asked for.
Could you look at your business and give it a radical redesign that means you become the disrupter and not the displaced?