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The most valuable competitive advantage is a sharp and nimble mind, cloaked by a humble exterior. — Maria C Dawson
The Wealth of Nations
"No large country, it must be observed, ever did or could subsist without some sort of manufactures being carried on in it; and when it is said of any such country that it has no manufactures, it must always be understood of the finer and more improved, or of such as are fit for distant sale."
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“The key to breaking through consumer resistance is to approach marketing practice as a source of competitive advantage itself instead of merely a way to communicate a message about a brand.”
2004 Yankelovich study
“I think if you have the ability and talent in one way, you have it in all ways. I’m not a jack of all trades; I’m a master of many. I don’t feel there is anything I can’t do if I want to.” – Evel Knievel
All great companies are focused around developing a pinwheel product. Their competitive advantage lies in creating a main product and then complimenting it with auxiliary products branded off from the original. As important as the complimentary products will be, the longevity of an organization lies in its ability to distinguish what is their pinwheel product, and by doing so, they will identify what they do better than anyone else.
Jim Collins argues, in his bestselling book “Good to Great”, that we need to base everything we do around the hedgehog concept. We need to pursue those ventures that align with three things: what we are most passionate about, what provides us the greatest return on investment, or profit per X, and what we can do better than anyone else in the world. If we only follow one or two of these ideals, we no longer are providing a solid, value proposition to our customers.
In 1976, Apple started with three people and one product, the Apple I. It was only through developing and perfecting their first product offer that they allowed themselves to create complimentary products like the iPod, iPhone, and iWatch. But what they focused on first was creating a personal computer that was easy to use.
In 1995, Jeff Bezos sold his first book out of his garage and Amazon was born. He believed that he could provide people the same product they could get in a bookstore but knew that he could do it more efficiently. With less overhead from selling direct to consumer, Bezos provided his customers a discounted rate as well as the ability to receive his product right to their front door. He then utilized the same principle to provide ecommerce solutions for almost any product for which his customers asked. His recent purchase of Whole Foods for just under $13.4 billion not only shows his ability to grow a company off of one pinwheel product, it illustrates how companies who focus initially on what they do best, can branch off into a multitude of new products, as well as new industries.
In 2006, Martin Eberhard and Elon Musk released the first ever electric sports car, the Tesla Roadster. Within only a few years they had catapulted themselves into one of the highest selling American car companies while disrupting the entire industry worldwide. It was through their success that they were able to purchase tertiary companies like Solar City while building their new battery storage facility called a gigafactory. Marc Cuban has argued that Tesla may just be a proof-of-concept for Elon Musk by showing people how important it is for us to not only create renewable energy, but to be able to store it efficiently.
What do all of these companies have in common, other than undeniable success? They started their companies by focusing on one thing, what they believe they can do better than anyone else in the world. You and I are just like these companies, at one point or another we are all attempting to find what we do best. Typically that will be found when what we are most passionate about aligns with how we can best make a positive impact in the lives of those around us, and in our community as a whole.
Our competitive advantage will not just be based around a specific job we do, it will be the way in which we best communicate our ideas. Some are better suited to verbally communicate their ideas through the written word or through giving speeches. While others will be better accustomed to share what they believe most strongly in through visual representation by the art that they create. Our advantage will transcend over any job or work we do, it will permeate itself into every aspect of our lives.
Our goal must be to focus on what we do best and then to add spokes off of our pinwheel product through complimentary skillsets and knowledge. This will not only increase the value of our competitive advantage, it will also provide more options to our customers. We need to continually growing our knowledge base on our areas of interest in order to strengthen the value proposition that we provide.
We are all pinwheel products, but our strength lies within our ability to focus first on what we do best before we branch off into what can make us better. Evel Knievel realized early on that his competitive advantage was his ability to mystify a crowd by doing something no one had done, or was willing to do, before. He then was able to continue to evolve his demand by adding new tricks to his bag of which others would pay to see.
We owe it to those around us to develop our pinwheel product so that we can create a world where a summer’s breeze keeps the whole world spinning, and that makes us feel fine.
(Evel Knievel created demand for himself by realizing that he was a pinwheel product.)
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Jane Scotland from Beyond the Invisible provides a video testimonial at the Spring EHX show in Orlando, FL on 26 March 2010. QuoteWerks gives them a "competitive advantage"!
Beyond the Invisible designs, integrates and installs all forms of home technology from home cinemas, audio and video systems through to lighting and heating control.
Additional video testimonials can be found on our YouTube channel.
Click here to learn more about QuoteWerks.
The other day I was writing a customer satisfaction report we had just conducted for a client. The report asks customers what is important to them and how the client performs on each of the attributes. It covers all aspects of a distributor’s business.
We’ve deployed the survey p...
www.electricaltrends.com/2014/12/csi-study-lead-process-i...
Be Prepared to create stronger networking connections. Be Prepared is not just the Boy Scout motto. It’s the way to get the most out of your networking efforts. Whether you aim to do personal or professional networking, Meetup.com is a great site for enlarging your network. Here we’ll share a couple of tips to use […]
Be Prepared to create stronger networking connections. Be Prepared is not just the Boy Scout motto. It’s the way to get the most out of your networking efforts. Whether you aim to do personal or professional networking, Meetup.com is a great site for enlarging your network. Here we’ll share a couple of tips to use […]
IN THIS SUMMARY
Few concepts in the United States are as deeply rooted as the American Dream. Hard work, determination, a willingness to take risks – these are the qualities needed to succeed, at least in the common narrative. According to author Chris Rabb, however, the reality is not so positive. Only a small fraction of businesses succeed past their first few years, and even fewer hire employees. In Invisible Capital, Rabb discusses the myths, realities, and opportunities behind entrepreneurship, explaining where the misconceptions come from and how damaging they can be for would-be business owners. According to Rabb, invisible capital is “the collection of largely intangible assets that improve the probability that a venture will grow and thrive.” Invisible Capital reviews how invisible capital can be identified, leveraged, and shared in order to level the playing field for entrepreneurs.
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If your sales are flat, chances are you just aren't giving people a good enough reason to choose you. Create Competitive Advantage will teach you how to uncover what sets you apart.
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Entre o G20 e a COP30: como podem os locais de trabalho seguros e saudáveis contribuir para um planeta sustentável?
Wolf Kirsten, Co-Director, GCHW: Rafael Lucchesi, Superintendente SESI, Brazil
Foto: Gilberto Sousa/CNI
Continuous Competitive Advantage – Over the past few years, as organizations have invested in strategic procurement capabilities and increasingly centralized buying decisions, savings have been an acceptable metric to measure procurement performance.
This is because organizations...
Continuous Competitive Advantage – Over the past few years, as organizations have invested in strategic procurement capabilities and increasingly centralized buying decisions, savings have been an acceptable metric to measure procurement performance.
This is because organizations...
At least the business world. People are using new technology to capture a competitive advantage though outsourcing around the world.
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Keynote presentation: Between G20 and COP30: How Can Healthy Workplaces Contribute to a sustainable planet?
Halshka Graczyk, ILO, Switzerland
Foto: Gilberto Sousa/CNI
Continuous Competitive Advantage – Over the past few years, as organizations have invested in strategic procurement capabilities and increasingly centralized buying decisions, savings have been an acceptable metric to measure procurement performance.
This is because organizations...
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Keynote presentation: Between G20 and COP30: How Can Healthy Workplaces Contribute to a sustainable planet?
Halshka Graczyk, ILO, Switzerland
Foto: Gilberto Sousa/CNI
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Keynote presentation: Between G20 and COP30: How Can Healthy Workplaces Contribute to a sustainable planet?
Halshka Graczyk, ILO, Switzerland
Foto: Gilberto Sousa/CNI
Streamlining Construction Projects with Advanced Estimation Software
In the fast-paced world of construction, accurate cost estimation is a linchpin for success. Traditional methods can be time-consuming and prone to errors, leading to project delays and budget overruns. Enter estimation software for construction – a game-changing solution that brings precision, efficiency, and agility to the table.
1. Precision at Your Fingertips:
2. Swift Project Planning:
3. Navigating Cost Volatility:
4. Collaborative Edge:
5. Sustainability Made Tangible:
In the realm of construction, accurate estimations are the cornerstone of profitability and client satisfaction. Embracing advanced estimation software isn't just a technological leap – it's a strategic move toward efficiency, precision, and staying ahead in a competitive market. So, why rely on guesswork when you can harness the power of data-driven construction estimation software for a brighter, more prosperous future?
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Entre o G20 e a COP30: como podem os locais de trabalho seguros e saudáveis contribuir para um planeta sustentável?
Wolf Kirsten, Co-Director, GCHW: Rafael Lucchesi, Superintendente SESI, Brazil
Foto: Gilberto Sousa/CNI
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Entre o G20 e a COP30: como podem os locais de trabalho seguros e saudáveis contribuir para um planeta sustentável?
Wolf Kirsten, Co-Director, GCHW: Rafael Lucchesi, Superintendente SESI, Brazil
Foto: Gilberto Sousa/CNI
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Entre o G20 e a COP30: como podem os locais de trabalho seguros e saudáveis contribuir para um planeta sustentável?
Wolf Kirsten, Co-Director, GCHW: Rafael Lucchesi, Superintendente SESI, Brazil
Foto: Gilberto Sousa/CNI
Using #JoharisWindow organizations can identify opportunities for #innovation and enhancing their #CompetitiveAdvantage
www.linkedin.com/today/post/article/team-structure-busine...
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Entre o G20 e a COP30: como podem os locais de trabalho seguros e saudáveis contribuir para um planeta sustentável?
Wolf Kirsten, Co-Director, GCHW: Rafael Lucchesi, Superintendente SESI, Brazil
Foto: Gilberto Sousa/CNI
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Entre o G20 e a COP30: como podem os locais de trabalho seguros e saudáveis contribuir para um planeta sustentável?
Wolf Kirsten, Co-Director, GCHW: Rafael Lucchesi, Superintendente SESI, Brazil
Foto: Gilberto Sousa/CNI
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Entre o G20 e a COP30: como podem os locais de trabalho seguros e saudáveis contribuir para um planeta sustentável?
Wolf Kirsten, Co-Director, GCHW: Rafael Lucchesi, Superintendente SESI, Brazil
Foto: Gilberto Sousa/CNI
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Entre o G20 e a COP30: como podem os locais de trabalho seguros e saudáveis contribuir para um planeta sustentável?
Wolf Kirsten, Co-Director, GCHW: Rafael Lucchesi, Superintendente SESI, Brazil
Foto: Gilberto Sousa/CNI
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Entre o G20 e a COP30: como podem os locais de trabalho seguros e saudáveis contribuir para um planeta sustentável?
Wolf Kirsten, Co-Director, GCHW: Rafael Lucchesi, Superintendente SESI, Brazil
Foto: Gilberto Sousa/CNI
Continuous Competitive Advantage – Over the past few years, as organizations have invested in strategic procurement capabilities and increasingly centralized buying decisions, savings have been an acceptable metric to measure procurement performance.
This is because organizations...
Brasília, 06/11/24 - 12th Global Healthy Workplace Awards & Summit
Entre o G20 e a COP30: como podem os locais de trabalho seguros e saudáveis contribuir para um planeta sustentável?
Wolf Kirsten, Co-Director, GCHW: Rafael Lucchesi, Superintendente SESI, Brazil
Foto: Gilberto Sousa/CNI