Matt Mickiewicz’s life is a series of destructive events. How long ago would that have represented the history of a psychopathic criminal?
Today, it is the heart and soul of pitches to VC’s and angels and crowdfunding events.
Matt gave some interesting facts and questions on disruptive technology at his talk last night for Igniters.
1. What services or processes are fundamentally broken, overpriced and/or frustrating.
My immediate response was lawyers/legal services.
2. How can you create an offering that is 10X or 100x better than the alternatives?
3. What type of assets have no liquidity and need a marketplace that connects buyers and sellers. Matt’s own flippa.com is a great example. This is a marketplace for buying and selling domains and small websites.
4. A most important quote by Seth Godin from Matt:
When the thing you sell has communication built in, when it is remarkable and worth talking about, when it changes the game–marketing seems a lot easier. Of course, that’s because you did the marketing when you invented the thing, saving you the expense and trouble of yelling about it.
That’s good – I can think of 2 things I have written about here that fits the bill 1) lab tests. When people find Theranos and it’s micro cost, micro sample, blood draw, people will talk.
2) Vortis cell phone antennas. They reduce radiation, increase call clarity, and let those with hearing aids use a cell. VORTIS is remarkable, worth talking about , is a game changer of the highest level and has the “built in communication” Godin refers to. The fact it facilitates communication is just simply extra special as far as Godin’s parameters go. James Johnson, CEO and founder built in the game changing details as he built out the tech. In the best of creativity,there is utility. see James and Vortis here: http://www.thesiliconvalleystory.com/cell-phone-problem-journey-vortis/
5. Change infrastructure rules and flow of information.
FDA – R U LISTENING? You may be King of the Infrastructure now and make the rules and stop the flow of info and you certainly have your apologists that want you to control, oversee, manage and otherwise look out for your children, but health care was one of the examples used by Matt to say, it isn’t always easy to disrupt. No, it is not. To be disruptive when the rule makers won’t let you move is not possible. Stifling innovation through complex infrastructure and rules as they do now with 23andme is paternalistic and dangerous. http://www.thesiliconvalleystory.com/fda-halts-23andme-genetic-tests/
6. How can you redefine a service as a product and a product as a service?
Someone asked Matt this and he said he didn’t have an answer immediately. I thought of prostitution. What about you?
7. Cut the fee by 90% or even better make it free.
This gives you a much wider audience. Matt did it with his graphic design business 99designs.com – logos went from 10K to $300. He got protests from graphic design culture but they failed to understand they now had a huge market. For free that made it big, he used the example of PlentyofFish – the online dating company. They are profitable from ad revenue.
Here’s to breaking the rules, making it free, reframing the idea and changing the world.
Our 6 word definition of destructive innovation is
Or..not all change is positive – so be sure yours is. And there’s a lot of tech and you can do a lot with it – go for it. Disrupt with passion and positivity. And don’t forget the workers you disrupted. Hire them – they know a lot about the industry.
Always remember: watch your backlash.