advice

Partner, disrupt

12:00:00 AM

Some time last year, I attended a Kickstarter seminar where Globe Telecom CEO Ernest Cu was the speaker, and I'd like to share with you a couple of things I picked up from the talk.

1. At the time of the seminar, Globe Telecom had just launched Spotify in the Philippines. Their biggest competitor, Smart Communications, tried to develop its own version of Spotify - an app called Spinnr, which was a flop. Cu said that the problem with some companies is they try to take on everything instead of sticking with their core competencies. So while Smart was trying to be an app developer, Globe sought out Spotify to make them partner.
The right fit.
(image from the internet)
Takeaway: Find the right people or groups with whom you can build mutually-beneficial partnerships.

2. Facebook is now being offered for free to all Globe subscribers, and someone in the audience asked Cu if that hurt the business. Initially, it did - Globe is giving away bandwidth that they could otherwise charge for. But he knew that in the long run, this move will generate more revenue for Globe. How? Free Facebook is a limited service as it blocks access to rich media. But those who use it will, at one point or another, want rich media. Cu was right - after a few months, Free Facebook increased the number of people who subscribe to paid internet services. Smart eventually followed suit.
Start with you
(photo from the internet)
Takeaway: Disrupt yourselves. The competition and the business environment are out to disrupt you, to throw you off your game. But if you're not afraid to disrupt yourself, you will never be at their mercy. You change the game, you lead the game.

isawisay

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