How to make a million
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Small businesses are best placed to ‘disrupt’, making an impact far disproportionate to their size. We look some of the success stories and how you can tap into the power of disruptive innovation.
Many start-up ‘new generation’ brands are causing revolutionary innovation-driven growth. AirBnB –out-booking global hotel chains with in excess of 1 million rooms on its books– is a prime example. Business analysts have attributed its success to its disruptive, hands-off tactics.
AirBnB used social technology to connect property owners with short-term renters. It shifted the balance of power in the hotel industry, creating a peer-driven business model.
Technology company UBER matches consumers to car services via an app and has transformed the taxi industry (amid much controversy). Users can request rides from approved local drivers.
The mobile greeting app by Cleverbug interfaces with Facebook to create personalised cards for birthdays and life events sent from your smartphone.
EE spotted the potential of the Internet of Things and created products that enabled other businesses to be disruptive and more efficient. This includes Connected Business products such as a 4GEE Capture Cam.
Maria Armishaw, EE’s head of small business product marketing, said: “The 4GEE Capture Cam is a wearable camera which enables small businesses to livestream HD video. Early adopters include Swinley Bike Hub, which is live streaming coaching and training sessions, and online estate agent eMoov, which is live streaming property viewings to potential buyers. Meanwhile, sailing holiday provider Sunsail reduced costs by over £10,000 annually using a combination of Smart Forms on 4G tablets, while increasing customer engagement by 60%.”
If you have the right tools in place, disruptiveness will follow:
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