If you look at the world through the eyes of a disruptor, you realize that no one company is so essential that it can’t be replaced and no single business model or sector are off-limits to a raw burst of change. The same goes for the business of our personal lives.
This great new article in Success speaks about how you too, can make your own rules, disrupt your career and life course, and smash the status quo in a positive way.
Now, more than any time in our lives, it’s important to recognize the rapid changes to our reality that continues to gain momentum. In the 1920’s, the average lifespan of a company on the S&P 500 was 67 years. Today it is 15. It is predicted by 2025, 40% of Fortune 500 companies will not only no longer be on the list, but will be out of business. The very things that made companies successful 50-60 years ago are getting in their way today. Companies that led the way in the 20th century are doomed to fail in the 21st.
If you doubt the enormous impact disruptors can have on business as we know it, consider these examples:
- In 1980, influential management consulting firm, McKinsey & Company advised ATT that the number of cell phone subscribers in the U.S. would be 900,000 by the year 2000. Based on this analysis, ATT decided not to pursue this market. The actual number turned out to be 109 million.
- Reed Hastings of Netflix recalls being laughed out of the room by Blockbuster Executives in 2000 when he proposed a partnership.
- Kodak invented and rejected the digital camera. When they filed bankruptcy in 2012, they still owned the patent rights for digital photography. While this was happening, three-year-old Instagram, with 13 employees, sold for $1.
I would encourage you to start thinking about innovations in your own businesses and personal lives. What will carry you forward in this rapidly changing world?