Every market leader needs to anticipate disruption and ask: should we disrupt ourselves before others do? Disruptive innovation isn’t about winning a technology race, but about delivering innovations aimed at customers whose needs are being overlooked.
Business model innovation is about fundamentally repositioning your business around a clear—though not always obvious—customer need, then realigning your resources, processes and profit formula. It’s not easy and can take decision makers out of their comfort zones. But the results can be dramatic.
To truly get at what drives customer intent and choice, leaders need to focus on understanding the “jobs” that customers are trying to get done in their lives. This approach, called jobs to be done, is based on the observation that people don’t buy simply buy products or services; they “hire” them to get important, unsatisfied jobs done in their lives.
Catering to what your best customers can buy this year or next seems to make sense. But incremental improvements rarely lead to breakthrough, game-changing innovations—which typically take five to ten years to deliver impact. Innovating for the long term takes a systematic approach to imagining the future and making it happen.