Disruption

It’s become almost a business goal. If you can find a way to disrupt an industry, you can make billions.

People, especially entrepreneurs now look at Uber, AirBnB and Amazon, as examples of the golden ring, the prize to be won with an innovative, disruptive idea. “Uberize” has now become a verb much like “Google”.

In the business of dentistry, Invisible braces or aligners have been a disruptive force. Just ask any orthodontist. Patients are now going to general dentists and even the local CVS or mall to be fitted for aligners.

Amazon is still, in my opinion the most disruptive force affecting dentistry. It’s something that I’ve written about and that continues to disrupt, even as most dentists stick their heads in the sand refusing to accept the reality of the marketplace.

Amazon does not affect dentists directly. It has changed how people buy their goods. It has also fed into the expectation of “immediacy” in our culture.

Dentistry, a “service” business, is now seen by CVS, Walmart and even your local Mall, as a magnet for the foot traffic they so desperately crave. People, for the most part, still have to GO to the dentist.

I wonder how much time is spent by entrepreneurs thinking about the next DISRUPTIVE idea?

Is it really worth it?

“If you wake up on a Casper mattress, work out with a Peloton before breakfast, Uber to your desk at a WeWork, order DoorDash for lunch, take a Lyft home, and get dinner through Postmates, you’ve interacted with seven companies that will collectively lose nearly $14 billion this year.”.
-From https://www.theatlantic.com/ideas/archive/2019/10/say-goodbye-millennial-urban-lifestyle/599839/?

The World is certainly changing but some things are constants. People might defer profits for a while but the goal of business is to make money. Even VC, PE and Hedge Funds have to show a profit. Let’s just see what happens to WeWork.

And while trying to figure out how to build the next Amazon or Uber might be a waste of time and effort, understanding just how these disruptive technologies are changing the buying and living culture around us is important for any business owner.

How will YOUR practice be impacted?

Answering this question today is more important than ever.

That’s part of the Strategic Planning process we at PPS are famous for.

Such a process should be ongoing but is critical for those who are considering an exit strategy, especially in the near future (within 5-8 years).

Want to discuss how PPS can prepare you?

Schedule a free, 20 minute consultation by emailing us at: info@practiceperfectsystems.com