Another prime example of a disruptive innovator is Vancouver-based startup company Wantering. Founded in late 2011, Wantering is an online search engine that provides customers with easy access to all the available fashion products across over 125 retailers. Founder Matt Friesen explains that when visiting individual retail stores, it’s difficult to get a grasp on all the available options, which makes the experience of combining styles inconsistent. The website revolutionizes the art of “mix and match”; customers can easily purchase a top from American Eagle, shoes from Vans, and maybe a scarf from Stole, all within 5 minutes and in the comfort of their own home. Wantering is still fairly new and within its startup phase. The company was launched after gaining funds from “Love Money” from friends and family, Venture Capital, and angel investor Mike Edwards.
After reading about multiple startups in the past recent weeks, it seems that all the successful entrepreneurs have one point of commonality: disruptive innovation. Wantering did not necessarily revolutionize the retail industry, but following Amazon’s approach, it made shopping for these products less costly, less timely, and more convenient for its users. In short, their experience was simplified. Matt Friesen did not have to be an expert in the area of fashion to get in the industry; he merely had the will to create a more convenient experience for his customers. That’s the beauty of entrepreneurship and business in general: having a degree in business doesn’t necessarily mean that your passion lies only within making money or studying consumers. One could be passionate about dancing, skateboards, or food, and they could easily work for those industries or start a business of their own. However, the most important challenge, although the not the most difficult, would have to be maintaining a competitive differentiation advantage. With so many business established, and even bigger corporations dominating the minds of consumers, entrepreneurs have to ask themselves: what can they bring to the table that the industry hasn’t seen before? Are they creating unnecessary gain? Or are they removing a potent pain that could sustainably benefit society?
Citation
The Globe and Mail. 24 Oct 2014. Vancouver Fashion Startup Struts Into The U.S. In A Big Way. Retrieved from http://www.theglobeandmail.com/report-on-business/small-business/sb-growth/the-challenge/vancouver-fashion-startup-moves-into-the-us-in-a-big-way/article21192886/“