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Season 2 | Episode 21 | How embracing creative destruction can help your business grow - YouTube
Channel: Rusty Monkey
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what are you doing well Chris I'm seeing
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a bit of creative destruction hi I'm
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Matt I'm Chris and today we're talking
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about creative destruction monkey Monday
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monkey Monday yeah
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so what is creative destruction well
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it's kind of a term it's not the
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computer game another video game for a
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start but your disappoint our loads of
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people have just switched off every be
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able to see that on our YouTube stats
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it's a term is sort of an economic term
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really first created by Joseph
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Schumpeter it's probably Joseph is it
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I don't know John it wasn't theirs
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anyway it's a term it's a term we use in
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the company quite a lot and maybe we
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could tell my story
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oh yeah so the first time I heard
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actually was when I was doing some
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development work I'm not really a
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developer but I have enough knowledge to
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be dangerous and I'd spent them be a
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couple of days trying to achieve
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something and I was frustrated and I was
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kind of really I felt like I was just so
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close I was just so nearly there and one
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of our more experienced developers came
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over to me and have a look at where I'd
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got to and he said look I have an idea
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for you but you're not going to like it
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and I said go on he said I think if you
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went about it this way you'd get there
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this this and this and I said yeah but
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I've spent two days on this and I'm
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really close and so really we don't have
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to destroy this straightaway Park it
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over here let's version that and just
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start again spend a few hours I don't
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see you getting and he said let's just
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do some creative destruction here and it
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was hard it was really hard so I
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invested all that time and effort and it
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was hard for me to do but I did it and
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actually within two or three hours I
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think I'd got to exactly where I needed
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to be and I'm not
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sure if I'd persevere down this road I
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would have got that I felt I was close
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but it was it was a revelation for me in
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a way because it really helped me
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embrace and help the company embrace I
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think overall the idea of creative
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destruction yeah so why would you do it
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without it your growth can stall just
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because everyone's doing exactly what
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they've done forever yeah
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so if you carry on doing everything that
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you've always done you'll get the same
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results yeah and I think the bigger the
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bigger you are as a company the harder
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it can be sometimes I mean let's look at
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the the NHS is a really good example how
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it's still using who really old computer
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systems because of the size of it and
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the nature of it it's very hard to do
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that so the bigger you are the harder it
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is to sometimes embrace creative
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destruction but as well it just mean you
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are slower moving and you can't be as
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agile as those smaller companies around
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you yeah and it just helps you stay
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ahead of the curve really and makes your
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business happier in a way yeah so one of
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the things we did was moved all our
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invoicing online I remember that being a
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tricky moment when we had to just stop
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everything we've been doing for ten
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years or whatever that's a tricky one
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wasn't the quoting well we did no we did
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we move from a yes - sorry yeah you're
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right yes dear I we use yeah yeah yeah I
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mean there's been like we've changed so
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many bits of software in the company and
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when we talk about crate struction it
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could be lots of different things it can
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be your management structure it can be
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and the way you recruit it can be the
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actual physical hours you ask your staff
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to do any business process any piece of
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software really anything anything that
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makes your business run will be based on
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some kind of structure philosophy
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suffers something and it's all worth
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reviewing and potentially destroying it
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just like our blackboard yeah so how do
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you do it it says point one here is
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analyze phrases like if it's not broken
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don't fix it we've always done it like
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this yeah I mean they're dangerous
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phrases are they so if you are in a
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company and
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inu joins and they they say but why are
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you doing it like this and the answer is
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well that is how we have always done it
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it's dangerous because there may be
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saying they may already know a better
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way so you really want to embrace and
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analyze anything that anybody says
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that's like that and and explore their
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knowledge and expertise because maybe
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they know something that you don't and
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maybe there's a better way of doing it
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yeah it should review your systems every
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six to twelve months yeah sounds a lot
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sounds sounds really aggressive doesn't
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it what every six months I've got to see
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if I'm still using the right accounting
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software in many ways yeah have a look
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around because with each sort of with
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each year things move so fast especially
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in technology there are better things
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out there that you don't have to live
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with anymore and it buys you life and
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time yeah you could be losing profit by
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just not looking doing research every
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six to twelve months yeah it does sound
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a lot but it's definitely worth doing
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and once you once you make these smaller
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because sometimes be painful and let's
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not forget that it can sometimes you
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came from once you make those
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adjustments it can have real positive
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effect the next one is identify
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weaknesses within the user journey yeah
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we talked about user journey a lot but
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and that will help you identify parts of
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your processes or software or service
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that could need attention and could
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benefit from some creative destruction
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you know maybe your deliveries aren't
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going out on time and they haven't been
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for a very long time you go well perhaps
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we use a different delivery company or
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perhaps we totally change the way we
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deliver whatever it might be so be brave
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and embrace creative destruction and
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look for those things out there where
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opportunity could lie because there'll
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be companies around you who are newer
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maybe don't have the systems you have
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and now be adopting new approaches new
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and faster things and could end up being
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more competitive yeah and you'll find
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clues from various places so use
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feedback and reviews you might find a
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Google review or somewhere online
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reviewing your place and that will
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pinpoint an issue that you've got that
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you didn't know about yeah
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great bit of advice so get out there
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Kohi destroy parts of your company to
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make it better
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we totally encourage you to do so yeah
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it's really cathartic yes yeah
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all right well we'll see you next week
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yeah Cheers
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oh and you should subscribe to our
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channel and look at our groin videos yes
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this one is what YouTube things you like
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and it's all about what we recommend
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this has becoming a thing it is yes
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check out our growing videos cool ok
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