Buzzwords come, and buzzwords go, and sometimes it’s interesting to watch their passing. In this case, with the advent of covid-19, “disrupt” has been all but completely replaced by “pivot”. In a way, this makes sense – the corona virus is widely perceived as the big disrupter, causing many businesses to pivot, often radically, and mostly digitally.
But is it? And have they?
BusinessLeader.co.uk defined disrupter as “To be a disrupter is to create a product, service, or way of doing things which displaces the existing market leaders and eventually replaces them at the helm of the sector” while the Cambridge Dictionary defines it as “a company that changes the traditional way an industry operates, especially in a new and effective way”.
Pivot has been used for a while, (in the case of Silicon Valley in the US, more than 8 years) but 2020 could well be named the “Year of the Pivot”. CEO Magazine sums it up nicely: “When a business pivots, it’s essentially changing a fundamental aspect of its business”.
For many small businesses, the change has been no more than creating a take-away service, creating a long-overdue online presence/store, or adding their own delivery service to their already existing store – a long way from changing a fundamental aspect. Similarly, has any industry really changed the way it operates because of covid-19? Have the conditions forced upon us a lasting improvement in the way that we do business?
For some, absolutely. For most, time will tell. There is already enormous pressure out there to return to “normal”, and the lure of our comfort zone is stronger than ever. But now – right now – is the time to take a really good look at the way we work and live, and through a broader lens then just our own business, systems, industry, town, suburb or city. Taking a more holistic view of our society and our places in it while we have this opportunity, we can organically and constitutionally improve how we work, and live.
So what does that mean?
For small business, it means the time of operating as a competitor to other small businesses is coming to an end. Competing in the same space? No, you’re not. You’re synergistically providing the solutions to a client-base that is too large for a single small business to service. Another small business offering the same products as you do? Time to collaborate on suppliers and work together to both build your industry (larger market) and provide you (and them) with a more competitive edge against the bigger companies. Want to expand your reach and audience? Bet your buddy does as well; partner up watch it grow.
This doesn’t mean sharing trade secrets, or secret recipes. What it does mean is cooperation for the betterment of all.
That’s one thing that A Guide to Cardinia strives for. If you’d like to know more, or how AGTC can help, shoot us a message here.
- The Muse: Why Supporting Your Competitors is good for Business
- Business2Community: Business Competition: How Connecting With Competitors Is Actually Good for Business
- Inc.com: 5 Reasons Your Company Should Partner Up With Its Competition
- SmallBusiness.co.uk: Collaboration vs competition for a small business
- Salesforce: From competition to collaboration: how partnerships can improve small businesses