Becoming Digitally Disruptive

What is digital disruption?

It’s a transformation that is caused by emerging digital technologies and business models. For example, how Uber changed the Taxi Industry or how Netflix changed the Video Renting Industry.

What can you do to embrace digital disruption?

1. Focus on the strongest aspects of your business first. What do you do well? Then take a look at your weaknesses.

2. Partner or work with large innovators – talk to them about what your industry is and map out the steps involved.

3. Speak with developers who build websites or apps and walk them through the steps in your sales process or your customer support process and see where they may see some opportunities to streamline.

4. Meet with your suppliers to discuss what steps can be automated.

5. Know your industry inside and out by reading and watching different resources to learn about current trends.

6. Observe similar industries to yours. What changes have they made? Maybe there is a way you can emulate them.

7. Talk to your clients and customers about how your business can be improved. What do they like or don’t like about your business?

8. Take a look at what “human labour” is involved in certain steps and which of those steps can be automated. Think about everything like how your customers order, pay, and how shipments are delivered.

To learn more you can check out President of TorontoEntrepreneurs.ca Marc Belaiche, CPA, CA discuss here.

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