Uber & The Taxi Industry: Lessons For Innovative Businesses

Uber created a business that disrupted the status quo

Uber created a business that disrupted the status quo

Most European taxi drivers hate Uber with the same passion with which the Greeks resent the German Chancellor.

      Quite recently, the French brought traffic to a halt in Paris and other cities in protest against Uber.

      In India, there were mass protests against Uber when one of its drivers was accused of raping a female passenger.

      Even the UK considered the most liberal economy in Europe, Uber is coming under fire from taxi drivers.

So what is it about Uber for which reason it is probably the most hated business in the world?

      All Uber is guilty of is developing a ‘Blue Ocean’ strategy that disrupted the old taxi business paradigm of late arrival, extortionate fares and impolite drivers.

      Ubers’ business model is simple: taxi when you need it, how you need it, at reasonable price.

Uber sat a new standard that the taxi establishment cannot compete against

Uber sat a new standard that the taxi establishment cannot compete against

      Many taxi companies and drivers are struggling to compete with Ubers’ business model because it removes the power from their hands and places it into the hands of the consumer.

Resistance to change is nothing new.

      Industries and workers have been resisting change since the beginning of time.

      Heck even coal miners are up in arms when mines cease operations.

 

How Can Entrepreneurs & Business Owners Take Advantage Of The Uber Phenomenon?

      The good news about the Uber phenomenon is that it demonstrates how easy it is to disrupt any system especially long established systems.

FedEx completely disrupted the postal system.

Online shopping has disrupted the old retail business model.

Simply add speed or convenience as part of your service offering and you can disrupt your industry too

Simply add speed or convenience to your service offering and you will disrupt your industry 

      The internet and other new gadgets and apps presents a golden opportunity for entrepreneurs and small business owners to easily disrupt well-established systems.

If you are an entrepreneur or small business owner who have an idea, do not discard it thinking the market is already saturated.

 

      Like Uber, adding something as simple as speed, convenience or better payment terms to your service, can disrupt an established system.  

      Think about what you can add to your current business model or service offering to become the Uber of your industry.

Watch out for the haters, they are always around but don’t let them scare you.

 

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      In this fiercely competitive business environment, the tiniest of things can make an enormous difference to your sales and profit margin.

      Click on the links below to gain access to highly valuable resources specifically engineered to help business owners like you increase your sales and profit margin:

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      Meanwhile, please call 020 8798 0579 or email: info@theprofitexperts.co.uk for a FREE strategy session

Small Business Growth & Marketing Consulting Agency London

Small Business Growth & Marketing Consulting Agency London