Competitors are no longer right in front of you
In the pre-disruption days, competition were defined by what industry a company belonged to.
Banks competed against other banks for example and whilst every player was not happy this demarkation did suggest that at least you know who you were competing against.
But in the disruption age this neat definition has gone out the window.
Take the example of Weight Watchers.
According to wikipedia (another disruptor):
– was founded in 1963 by a New York homemaker, Jean Nidetch
– it now operates in over 30 countries and employs 25thousand people
– the company offers recipes, food products, coaching services, magazine subscriptions and fitness plans.
It’s a powerhouse.
It competes against other weight loss programs.
It’s being disrupted by mobile apps like Lose it.
An app that keep track of your daily calorie intake.
And FitBit that keeps a count of how many steps you take per day.
Weight Watchers now competes for the dieters and health conscious person’s attention with these other apps.
And these apps are simpler and cheaper than the extensive programs offered by the Weight Watchers of the world.
But notice also that FitBit and Lose It do not try and disrupt all the offerings of Weight Watchers.
They try and disrupt the attention and engagement of the dieter by offering something that is easier and more motivating.
Hang on to your boots — it’s exciting times as the landscape changes again and again!