This question, at the core of the book Moneyball, isn’t just about baseball. It’s a powerful principle that demonstrates how challenging the status quo and daring to be different can lead to great success. In business, it’s easy to get comfortable with traditional methods, but this complacency often leaves industries stagnant and clinging to outdated beliefs. Those who usually make the most significant breakthroughs dare to question the established wisdom.
Industries often stop progressing, becoming stuck in outdated beliefs and established ways of doing things. The collective momentum of an entire industry can create a powerful echo chamber, making it difficult for anyone to see a new, more effective way forward. Leaders and businesses get so used to “how it’s always been done” that they stop looking for better solutions, assuming that the current path is the only one to follow. This is a dangerous position to be in, as it makes a business vulnerable to a competitor with a fresh perspective.
An obvious example of this is the music industry. For decades, the main approach was selling complete albums. The entire business model—from record stores to marketing—was built around this singular product. Apple’s iTunes Store and the iPod completely changed this by allowing consumers to buy individual songs. This move, once seen as daring and even foolish by industry veterans, dramatically changed how music is enjoyed and shared, leaving behind traditional methods and proving that convenience and individual choice were far more valuable to the customer.
Similarly, the film and TV rental market relied entirely on physical stores. Netflix disrupted this, initially with its innovative mail-order DVD service, and then through the revolutionary concept of streaming. They recognised that convenience and instant access were the future, making the physical retail model obsolete almost overnight. Both the music and film industries show that being a contrarian, armed with a fresh perspective and a willingness to challenge the conventional, can be a successful approach that redefines an entire market.
These examples show that being a contrarian, with a fresh perspective, can be a wildly successful approach. The greatest innovations come from seeing what others have missed. Now, it’s your turn to ask the most important question in business: what if everyone else is wrong, and how will you prove it?
