Incremental or Disruptive? What innovative methods are better or more suitable for your firm? What measures of innovation have you applied to your real estate business to keep it relevant, and competitive?
Real estate is one of the remaining industries yet to be greatly affected by radical/disruptive innovation (disrupting and displacing established alliances, leading firms, methods or established services and products). However, get ready because that could be changing sooner than you think.
While many companies want decreased risks (who wouldn’t right?) do not be deceived by the lack of current aggressive innovative tactics that could leave you in the dust. Real estate is one of the most highly competitive industries in this country and your organization’s strategy is key to igniting robust development. Will you fight or circumvent your competition?
Firms that implement incremental innovation enhance or upgrade a little bit at a time. Incremental innovation is just a start to keep you from being caught completely off guard when radical innovation invades your industry. Align your forces and business culture to introduce something new and different. Don’t compete or fight for market share, but become the dominant player with radical innovation. Leadership and people cannot miss out on massive opportunities by doing nothing because nothing earth-shattering is happening yet.