Internet of Things
How to embrace technology- enabled market disruption and drive business growth in a downturn
Nick Earle, CEO of Eseye, challenges today’s business model mindset and how organisations must be more disruptive to stay ahead of the game.
B
usiness leaders can drive successful transformational change, increase competitiveness, and improve the company’s
bottom line, so long as they have the belief and the confidence in where the market is going next and how that will affect customer buying habits. Yet, although every business has a leader, only some businesses successfully reinvent themselves for what is coming next. Te data shows that eight of the top ten companies across all industry verticals are replaced by new entrants during every wave of significant technological change. And IoT will be no exception. For the last few
decades, the device connectivity business has been dominated by major Mobile Network Operators (MNOs) who have used their size and proprietary
lock-in with their own SIM to win the early market share for IoT devices. But with the advent of the eSIM, which allows networks to be switched over the air, this lock was broken and now the Mobile Virtual Network Operator (MVNO) model is in its ascendency. My current company, Eseye, successfully predicted this change in 2013 when we became the first MVNO to introduce a multi- network solution to deliver ubiquitous, global connectivity for IoT devices.
Predicting the future Everybody has a view on what will happen next, but how do CEOs filter the myriad of ideas and make the right choices? Aſter all, we all know the success stories where companies get it right, and they disrupt entire industries, and, in so doing, become members of the new top ten, but the more common outcome is either to make the wrong bet or no bet. And tech companies are particularly prone to this malaise. Well-known stories include the number one player in cell phones, Nokia, missing the Smartphone shiſt and, even more damaging, Kodak, who dominated photography, inventing but not bringing to market the very technology that ultimately killed them – the digital camera. Is there a formula we can fall back on? As
Malcolm Gladwell said in his book Outliers: “Success is not a random act. It arises from a predictable and powerful set of circumstances and opportunities.” Tis means that history constantly repeats, even though it takes different forms each time. And this is especially true in technology-enabled disruption. Troughout my career, I have led the global change management team for two $50bn businesses – HP and Cisco – and in those roles, I have found that a few patterns have constantly repeated themselves. Tese patterns were reflected in my book From
32 | June 2023
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