Johannesburg, 29 Sep 2016
As a smaller business it's easy to feel like the small fish in a big pond. Many an entrepreneur can become disheartened and overwhelmed by bigger market offerings and marketing machines within their sector which seemingly garner all of the attention, says Raizcorp.
There are many ways to keep a business's head above the water and to make sure that it has some stand-out value. The power of disruption can be key for a growing business. As the business grows, questions arise about the future of the company and its purpose. Many opt to continue in a stable and expected fashion, offering middle-of-the-line services or products and these types of businesses are important. Others choose to take their business by its horns and shake things up a little.
Disruption is a term that has become widely used across business sectors. Do businesses intentionally set out to disrupt the market or does this sometimes happen by default? Disruption in the positive sense will more than likely have had an intentional strategy behind it. So what is disruption all about and why should you consider it as an option for your company or product?
In an ICT market such as South Africa's where development and change are happening at a rapid pace, it can be difficult to see the wood for the trees at times. Our market is far from saturated due to the constant development at play and a growing middle market, however, it is immensely cluttered and can be confusing.
Monopolies are being challenged by smaller brands and market players making the landscape exciting, competitive and dynamic.
As a rule of thumb, not everyone can be different all of the time. If everyone was a game-changer, trailblazer or rain-maker then no one and nothing would be exceptional. There is no point in being disruptive for the sake of being disruptive. The idea needs to stem from a strategic goal and meet a relevant objective.
So if a business truly wishes to set itself apart with strategic goals in mind whilst helping to drive its industry forward, a disruptive mindset can help to attain these objectives.
So, how can your business be disruptive?
Positive disruption within the small business ICT sector can be achieved in many ways but here are just a few areas to consider:
Price
Setting yourself apart based purely on a price model is ambitious and needs to be carefully considered. Too cheap and you're setting up a lot of work for possibly very little return. Too expensive and you may be knocking yourself out of the market. Consider whether or not this is a sustainable and the correct approach for your business because you can be guaranteed that your competitors are always looking at how to compete with your product's price.
Service
Great service is often a winning formula, especially for smaller businesses that are still able to give clients their undivided attention. There is a lot to be said for engagement and loyalty but your product offering needs to then back up the great service offering which must be a long-term project.
Product
A great product backed by quality and basically getting the job done really well is a basic expectation. In order to disrupt the market here, your product needs to be ground-breaking and workable in order to shake up the market. Make sure you have done thorough research before launching your product and marketing it. Is your product really one-of-a-kind and does it speak to the market's needs?
Positioning
This is where a clever marketing strategy pays dividends. Winning share of mind can strongly guide your smaller business toward bigger things but be careful to follow through on any promises made and ensure that your actions and messaging are credible and authentic.
In order to make sure that your small ICT business is considering disruption in the correct manner and utilising it to your advantage, it is important to be in the know about all of your relevant industry trends and business strategies.
Raizcorp, Africa's only unfunded for-profit business incubator model, can assist in further developing small and black-owned ICT businesses in this area through Raizcorp's Business Growth Programmes.
For more information on Raizcorp's Business Growth Programme, please visit http://www.raizcorp.com/business-growth_programmes.
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