An engine to power up your business. Disruptive innovation – change your strategy to the 70/20/10 rule:
Spend 70% of your R & D budget to revamp/modernize/improve your existing product/service – the ones which fit in your corporate strategy best.
20% goes into the research for adjacent markets and their possibilities. Watch your competition closely and follow trends and features for your products in an expanded market.
The final 10% will be for something new. This opens the door to a disrupter focused (at first) on providing all those low-end customers (those which you will not reach with your overloaded existing products) with a “good enough”, but totally new product. In case of success, this product can then be further improved in the future.
