What is an industry disruptor?
It is a business innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market leading firms, products, and alliances.
- UBER & LYFT vs. traditional taxi services
- NETFLIX vs. video rental stores
- AIR B & B vs. hotels / motels
- AMAZON vs. everything
According to Forbes, the next few years may include disruptions in these areas:
- Fintech – financial technology
- Healthcare & Biotech – online pharmacy, blood testing, etc.
- Artificial Intelligence
- Virtual Reality
- Insurance – health, legal and other
Yeah, I don’t know what all of this means, either.
I had to look up “fintech.”
The bottom line is that fresh, creative new companies have moved in and hauled away the hearts of the consumer.
I especially like #5.
- I’m glad that someone is disrupting the high cost of health insurance. I also hope the future of healthcare will be brighter.
- Because I have been burned by high legal costs in the past, I am a firm believer in shaking up the world of lawyers and legal fees.
Since joining a legal protection industry disruptor, we have used a lawyer more than we ever had before.
DUH, because now we can afford it.
- We now have good quality attorneys at our disposal
- We have legal counsel on “retainer” if you will — hehe….it sounds mah-velous to say that
- We have “a lawyer friend” at the touch of an app
If you haven’t needed a lawyer, chances are you will someday.
Or you will wish you had.
Photo credit:Lexi Ruskell