Timing determines the outcome of nearly everything in our lives. Take a relationship for example. You might meet someone perfect in your eyes, but if the timing isn’t right on their end the desired outcome won’t be reached.
The startup and business world is no different when it comes to introducing a new product, service, or technology. Many factors come into play like market conditions and whether or not consumers are ready for something new or different.
There is intense competition in every industry, with multiple options when it comes to price and level of technology. Take the automobile industry as an example. There are very affordable cars priced less than $20,000 that provide safe and reliable transportation for a family of four, and there are luxury SUVs that can run upwards of a half-million-dollars.
They are the same in terms of what they do, but they are wildly different when it comes to the details of how they do it. For both to thrive in the market, there needs to be an audience for each option.
Another example is the gaming industry which has always been large but is growing rapidly due to the global Covid-19 crisis. One of my companies, Gamelancer Inc, a platform designed to empower gamers to generate revenue by being compensated for playing with others, is disrupting the gaming industry and timing had everything to do with it.
1. Your Product or Service Needs to Be Created Around Needs and Wants
A product or service that doesn’t satisfy needs and wants will never be a disrupting factor in any industry. You don’t have to completely reinvent the wheel or create an entirely new product, but you do need to create a new offering.
One of the reasons Gamelancer received so much attention pre-launch is because we solved a problem by bridging a gap when it comes to earning potential for gamers.
Currently, there are a handful of streamers and professional players that are earning a very nice living, but there is no in-between for those not looking to become professionals. By bridging the gap and creating a way for anyone to generate revenue while playing with others, we paved our way to disruption.
We aren’t creating a new space — the gaming industry is well-established. We are simply introducing an aspect that is both needed and wanted. If this was introduced in a time where those needs and wants weren’t desired, we would be on a much different path.
If you are starting a business it doesn’t matter if it’s a physical product or a service; you need to make sure there is a need. While you don’t have to reinvent the wheel, you do have to solve a new need or want from the consumer standpoint.
2. Must-Have a ‘Big Picture’ Plan with Scalability Potential
No matter how great an idea is, it will never be successful unless it’s part of a “big picture” plan. With Gamelancer, our user has the potential to be a long-term user. Streamers and professional gamers range in age from middle school to middle-aged adults.
Our “big picture” plan is no different than the largest brands in the world — acquire the customer at the earliest entry point and keep them as loyal users throughout that entire journey. The Covid-19 pandemic has introduced new gamers to the industry and has also opened the door for more consumers to realize that it’s possible to earn a living playing video games.
Professional sports leagues that were sidelined due to the pandemic — like NASCAR and the NBA — broadcasted its athletes streaming video games. This introduced a whole new audience to gaming. This “timing” has opened up the door to even more disruption opportunities, while also validating the “big picture” plan.
Scalability also comes into play and timing can contribute to this as well. Was the video game industry huge to begin with? Yes.
Was Gamelancer something that has been in development before the global pandemic caused the entire world to stay inside, leading to huge growth in the gaming industry? Yes.
Did timing contribute to the increased potential to disrupt an industry that is currently experiencing growth due to unfortunate circumstances? Yes.
The same applies to every new idea, product, or service — timing plays a major role. Some of the most successful entrepreneurs launched their idea at the perfect time and also saw the bigger picture and knew they had unlimited scalability. There isn’t a better example than Facebook.
Once Facebook started rolling and pickup up steam, they became the most dominant social media platform and immediately created their big picture and scaled to become the largest social media platform worldwide.
3. Innovative First-to-Market Ideas Win
To truly innovate and disrupt you need to be first-to-market. Look at Uber. It’s a great example. They were the first, but certainly not the only, ride-share app to the market. They disrupted the transportation industry.
How many other startups that are poised to disrupt are now referred to as, “The Uber of…” when being described. When you have an innovative idea and introduce it first — to a massive user base — you position yourself as a disruptor.
Many entrepreneurs have great ideas, but if the timing isn’t right, the outcome will be entirely different than what it would be if the timing was perfectly aligned. Knowing when to launch due to the “timing being right” is what sets the true disruptors apart from those with another “idea” that will never reach its full potential.