What would it look like to cannibalize your own business, your own product?
Clayton Christensen said it well when he wrote – “The fear of cannibalizing sales of existing products is often cited as a reason why established firms delay the introduction of new technologies.”
If we fail to disrupt ourselves, then we will allow another company to do it to us. An article I recently read pointed out these 3 great quotes from companies that failed to see coming disruption:
1876: “The telephone has too many shortcomings to be seriously considered as a means of communication.” — Western Union internal memohttps://bit.ly/2xgcT0z
1921: “The wireless music box has no imaginable commercial value. Who would pay for a message sent to nobody in particular?” — Radio and TV pioneer David Sarnoff’s associates on radio technology
1977: “There is no reason for any individual to have a computer in his home.” — Ken Olson, founder and CEO of Digital Equipment Corporation (DEC)
What product in your company needs to be disrupted today?