In 1968, Olympic fans and athletes watched in bemusement as a college sophomore jumped over the high bar backward. Until that day, every gold medal winner, indeed every Olympic athlete, who had competed in the high bar had gone over forward. Dick Fosbury literally turned his back on that tradition … won the Olympics … and forever changed the way the competition is played. Within eight years, 90% of high jumpers were using what came to be called the “Fosbury Flop.” Today, the Fosbury Flop is just the way you do things.
As you prepare for 2018, you are going to have to make a choice. Do you want to lean in and be a disruptor in your industry, or are you satisfied with just keeping up? If you are interested in the former, here is a formula that works, drawn from a 130-year-old company that has transformed from keeping up to disrupting.
The telecommunications industry was disrupted in the late 1980s with the breakup of AT&T, retailing was disrupted in the early 2000s thanks to online retailing, and music in the mid 2000s thanks to streaming. The financial service industry is next.