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The Buzzword That’s Overtaken Financial Services

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Is it just me or has “disruption” suddenly become a buzzword in financial services?

It seems like every time I turn my head someone else is delivering some disruption-related workshop or webinar for advice professionals.

The danger when a term starts becoming so widely used is that the meaning of it becomes dulled down. Kinda like “holistic advice”, or “client-centric design”, or “Kim Kardashian”.

The truth is disruption is about two questions to ask yourself to work out whether you’re part of the evolution or a target:

  • Is my business doing things better, easier or more efficiently than last year?
  • Am I offering a service, or am I in the experience business?

Related: The Danger in Skipping Straight to Implementation

Right now we’re in an interesting space. The businesses that are able to nail their new business model now will pull away from the pack, building up a lead that won’t be drawn back until the next big wave of change.

If you need a case study to show you what I mean (and what NOT to do), let me share the story of the phone that used to last all weekend…

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