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Disrupting traditional business models leaves the small business owner in fear. Swim or sink.

Ray Wong latest book Disrupting Digital Business: Create an Authentic Experience in a Peer to Peer Economy is a must read for every SMB. Wong talks of companies no longer selling products or delivering services but are delivering experiences. Uber, Airbnb, now locally office works adding mailing to their service offering, companies are re-inventing the offering to suit the us and creating more offerings and competition in the process.

Over 52% of Forbes business top 500 since 2000 are now gone. Trends Wong identifies are:

  • 1. Businesses are giving away product for services revenue.i.e Airbnb
  • 2.Service based businesses are selling at various packaged price points to deliver different experiences i.e Foxtel or Netflix model
  • 3.There are more experienced based models; i.e Uber
  • 4. Businesses are selling peace of mind i.e. ESurance, Marriott Experience

Ray identifies a few keys to building a disrupting digital business:
  • Wire your organisation for transformational thinking – Make it part of your DNA and have an investmentĀ culture and mindset
  • Be relevant and create personal experiences and understand what your customer actually want when they want it.
  • Be authentic and transparent with your staff and customers and keep your promises
  • Be Intention driven and purposeful, predict what will be delightful
  • Network in new ways to co-create and use data to make insightful collaborations and better decisions

About danielle@macinnismarketing.com.au

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