{"id":20675,"date":"2022-05-08T19:24:40","date_gmt":"2022-05-08T19:24:40","guid":{"rendered":"https:\/\/ustechportal.com\/?p=20675"},"modified":"2022-05-08T19:24:40","modified_gmt":"2022-05-08T19:24:40","slug":"how-why-disruptive-technology-platforms-succeed","status":"publish","type":"post","link":"https:\/\/ustechportal.com\/how-why-disruptive-technology-platforms-succeed\/","title":{"rendered":"How Why Disruptive Technology Platforms Succeed"},"content":{"rendered":"<p style=\"text-align: justify;\">You hear the term \u201cdisruption\u201d a lot nowadays, whether it\u2019s referring to Industry-shaping titans like Uber and Spotify or plucky startups looking to make waves in a specific market.<\/p>\n<p style=\"text-align: justify;\">It\u2019s tempting to refer to <em>any <\/em>novel approach to business as &#8220;disruption,&#8221; but the term has a more specific meaning. <a href=\"https:\/\/hbr.org\/2015\/12\/what-is-disruptive-innovation\"><u>According to Harvard Business Review<\/u><\/a>, \u201cDisruption describes a process whereby a smaller company with fewer resources is able to successfully challenge established incumbent businesses.&#8221;<\/p>\n<p style=\"text-align: justify;\">Most often, that small company leverages a new technology (or new use for an existing technology) in its David and Goliath battle. For instance, you can trace Uber\u2019s disruption of the big taxi businesses back to their creation (and novel use) of mobile rideshare technology.<\/p>\n<p style=\"text-align: justify;\">That begs the question: how<em>\u00a0<\/em>do disruptive technology platforms succeed? What makes them such formidable competition to established, often much bigger incumbents?<\/p>\n<p style=\"text-align: justify;\">Let\u2019s explore three reasons disruptive technology platforms succeed \u2013 with examples.<\/p>\n<hr \/>\n<blockquote>\n<hr \/>\n<h2><\/h2>\n<h2 style=\"text-align: justify;\">They Solve a Common Pain Point<\/h2>\n<\/blockquote>\n<p style=\"text-align: justify;\">You could argue that most successful businesses, even conventionally established ones, won their initial success by solving a common pain point or problem. However, disruptive technology platforms have made an art of this standard business practice.<\/p>\n<p style=\"text-align: justify;\">An early example of a disruptive technology platform is Salesforce, which set out to \u201cdemocratize enterprise technology\u201d by applying emerging technologies to traditional CRMs. Before Salesforce, businesses needed to hire costly IT workers to establish customer relationship management solutions \u2013 a pain point for several companies.<\/p>\n<p style=\"text-align: justify;\">In a twist that illustrates just how far disruptive technology platforms have come, <em>Fortune <\/em>reports that Salesforce, one of the original disruptors, is ripe for disruption\u00a0from up-and-coming startups.<\/p>\n<hr \/>\n<blockquote>\n<hr \/>\n<h2><\/h2>\n<h2 style=\"text-align: justify;\">They Serve Segments Traditionally Overlooked by Incumbents<\/h2>\n<\/blockquote>\n<p style=\"text-align: justify;\">A key way that disruptive technology platforms gain a foothold in their industry is by serving segments that the <em>other guys <\/em>overlook.<\/p>\n<p style=\"text-align: justify;\">Take, for example, Nobul, an online marketplace where real estate agents compete against one another to represent buyers and sellers, who can choose their agent based on various criteria.<\/p>\n<p style=\"text-align: justify;\">The marketplace leverages a proprietary algorithm to comb through agents\u2019 sales histories, verified reviews and other data to create a \u201cmatch score\u201d for each agent.<\/p>\n<p style=\"text-align: justify;\">It\u2019s a tech-savvy way of solving real estate\u2019s opacity problem, one that appeals to millennials frustrated by misinformation and overlooked by traditional real estate agencies.<\/p>\n<p style=\"text-align: justify;\">Nobul CEO <a href=\"https:\/\/www.crunchbase.com\/person\/regan-mcgee\"><u>Regan McGee<\/u><\/a>\u00a0is clear that \u201cMillennial first-time home buyers are our target demographic.\u201d He shared with <a href=\"https:\/\/ca.finance.yahoo.com\/news\/real-estate-platform-nobul-lets-agents-compete-for-millennial-clients-205905432.html\"><u>Yahoo Finance<\/u><\/a>\u00a0that, nowadays, \u201cwhen people buy and sell real estate, they want to do it the same way they do everything else in their lives, like traveling or getting an Uber.<\/p>\n<hr \/>\n<blockquote>\n<hr \/>\n<h2><\/h2>\n<h2 style=\"text-align: justify;\">They Look at Things in a Completely New Light<\/h2>\n<\/blockquote>\n<p style=\"text-align: justify;\">Nobul is also an example of how disruptive technology platforms look at things in a completely new light. They aren\u2019t a real estate agency; instead, they facilitate real estate partnerships with a tech-forward bird\u2019s eye view of the industry.<\/p>\n<p style=\"text-align: justify;\">Airbnb\u2019s model is another classic example of a disruptive technology platform that peered outside the box. At a time when the hospitality industry thought in terms of hotels, by-phone bookings, and top-down organizational structure, Airbnb applied to share economy concepts alongside new mobile technologies.<\/p>\n<p style=\"text-align: justify;\">Disruptive technology platforms don\u2019t succeed by dint of being <em>new<\/em>. They succeed by solving a common problem, looking at things in an entirely new way, and serving a traditionally-overlooked segment of the market \u2013 all by using cutting-edge technology.<\/p>\n<p style=\"text-align: justify;\">\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>You hear the term \u201cdisruption\u201d a lot nowadays, whether it\u2019s referring to Industry-shaping titans like Uber and Spotify or plucky startups looking to make waves in a specific market. It\u2019s tempting to refer to any novel approach to business as &#8220;disruption,&#8221; but the term has a more specific meaning. According to Harvard Business Review, \u201cDisruption [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20676,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[10542,10545,10543,10544],"class_list":["post-20675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-how-why-disruptive-technology-platforms-succeed","tag-they-look-at-things-in-a-completely-new-light","tag-they-serve-segments-traditionally-overlooked-by-incumbents","tag-they-solve-a-common-pain-point"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Why Disruptive Technology Platforms Succeed<\/title>\n<meta name=\"description\" content=\"How Why Disruptive Technology Platforms Succeed | Characteristics of disruptive innovation | Disruptive innovation Clayton Christensen | Disruptive Tech\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ustechportal.com\/how-why-disruptive-technology-platforms-succeed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Why Disruptive Technology Platforms Succeed\" \/>\n<meta property=\"og:description\" content=\"How Why Disruptive Technology Platforms Succeed | Characteristics of disruptive innovation | Disruptive innovation Clayton Christensen | Disruptive Tech\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ustechportal.com\/how-why-disruptive-technology-platforms-succeed\/\" \/>\n<meta property=\"og:site_name\" content=\"UStechPortal.com is Providing all Tech Solution &amp; 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