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The phrase “disruption” is common in the tech world today. New technology allows small startups or medium-sized companies to supplant legacy organizations and change how everybody does business.
Now, everybody wants to be at the top, leading their sector into uncharted territory amid levels of growth that didn’t seem possible before. Let’s look at a couple of examples of the industries facing disruption head on.
Innovator Regan McGee built the digital platform Nobul, which has already changed how North Americans buy and sell real estate. Instead of buyers banking on having a relative who works as a realtor or some other inside edge, anybody can get flooded with offers from vetted agents competing to get their business.
Simply list your budget and describe what you’re looking for in a home, then agents will message offering additional incentives, like free services or cash back. The platform is secure because the agents never receive buyers’ phone numbers or emails — instead, all contact runs through the app itself.
For almost everybody, a home is the largest purchase they’ll ever make. Using machine learning and motivated realty experts who fit your criteria to get a better experience and rate has already upended the real estate industry.
More and more buyers, sellers, and agents are using Nobul, and it seems like there’s no turning back.
Companies like Uber are pretty much synonymous with the very idea of tech disruption, as companies seek to be “the Uber” of their industry. Uber saw that traditional taxis hadn’t updated their business model as technology developed. They charged at this opening by giving users an incredible UX experience that made it easy to use their phone to hail a ride, see where it was in real-time, and know how much it would cost in advance.
Imitators crept up to the point where even taxi companies had to make a similar app. You know you’ve disrupted an industry for good when the traditional companies who dominated it copy what you’re doing.
Media and Entertainment
Hollywood movies used to come out in theatres and DVDs until streaming came along. Now, people mostly use streaming platforms to watch movies and TV shows they love instead of owning a hard copy.
The idea of Blockbuster going bankrupt was once unthinkable, but today they’re a classic cautionary tale of what can happen to complacent legacy companies that fail to adapt to new technology. The “Netflix” button can be found on remote controls, while movie rental businesses barely exist.
Netflix led the way, and rivals like Crave, Disney, and Amazon followed suit.
There’s a major difference between influencing industry and altering it permanently. After trailblazers like Regan McGee, Uber, and Netflix changed the game, there’s no going back. Imitators may crop up like mushrooms overnight, trying to get a piece of their success. But there’s nothing quite like being alone at the top with the historically dominant companies in your rearview.