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One of the most influential books of my career is The Innovator’s Dilemma by Clay Christensen. Many people bandy about the definitions of “disruptive technology&# or “the innovator’s dilemma&# without ever having read the book and almost universally misunderstand the concepts.
Every day, we meet on Zoom not only to discuss pressing issues impacting our business, but also to bond over books we’re reading and television shows we’re watching. Meanwhile, it’s incumbent on you as the CEO to create an environment that encourages action-oriented behavior.
Siegel’s recent book, THE BRAINS AND BRAWN COMPANY: How Leading Organizations Blend the Best of Digital and Physical , explores how (and why) many business owners in digitized industries overlook and underappreciate traditional competencies like logistics, manufacturing, customer service, and quality control. Can you tell us more?
I have always loved watching videos there but always believed that any company controlled by a consortia of interests would be doomed in the long run – especially by established, large incumbents with an interest in protecting the past more than innovating the future.
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But it is illustrative of the measures that financial services companies — incumbents and fintechs alike — are taking to make their installment loans available to more consumers. In other words, it wants to help fintechs be in a stronger position to compete with incumbents, something it believes will benefit consumers.
In the last few years, incumbents have started to adopt technology to fix inefficiencies, but they’ve focused on tools to streamline individual tasks (e.g., dashboards to help price freight when brokers are calling around to find a truck), rather than rethinking the process of booking freight entirely.
I have spoken and written extensively about this going back to a post on labor rights (2014) and my TEDxNY talk (2015), several subsequent blog posts , and my book World After Capital. This has massively reduced the power of incumbent banks, allowing for rapid innovation in the banking and payments sector.
David Goldhill, in his enlightening book Catastrophic Care , declared: “…a guiding principle of any reform should be to put the consumer, not the insurer or the government, at the center of the system. How far in advance do you have to book an appointment ( the average is 24 days )? They also allow online booking.
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They say things like “we have a unique feature” and “the incumbents are dumb,” which might be true, but isn’t a strategy. There are not enough blogs or books about this phase; often leaders go underground. I don’t like freemium ; I want to learn from people who care enough to pay, not from the 20x more who don’t.
And I published this on my own startups blog. And you can learn a lot of what you need just by reading the top three books on it and just practicing the craft, right? Because people don't love the incumbent right now. Or even just read these blog posts and watch these videos. It's a doable thing. that people love.
Brian Halligan [02:14] – I basically just block all that day Wednesday so no one can book a meeting there. I think what helped a lot of introverts, I don’t know about you guys, is when that lady wrote that, what was her name, wrote that book. Craig Cannon [03:56] – I felt that after that book came out.
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