Find a difference and leverage it

The world does not need another Wal-Mart. In truth it would not have needed Wal-Mart if Kmart had executed. Too many companies try to emulate a leader or compete head on in a market. Unless the leader has slipped, this is a risky strategy because you are not filling a need. Southwest Airlines is different from the other airlines. You can like them or not like them, but there is no question they are different.

The L.A. Times recently published an article noting that some coffee houses are specializing in NOT providing WiFi services. In other words if you want a quiet place to relax, not a “third place” or a remote office, they are the place for you … assuming you are a coffee drinker. Starbucks offers free WiFi and a “third place.” If that is what you want, they are tough to compete against. Why would you try? Why not offer something different?

What is your point of distinction? Without one, you are just going to sell on price until you can’t make any money.


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3 Responses to Find a difference and leverage it

  1. Ken says:

    Succinct and well said.

  2. truant says:

    hi, i want to translate this post into Chinese. but i don’t understand what “if Kmart had executed” mean. can you explain it? thank you!

    • Mitch/Ralph says:

      Thank you for asking. If Kmart had performed well as a retailer. Or if Kmart had been a consistently good retail store doing what they set out to do. Kmart was originally like WalMart only a much larger chain of stores. WalMart was the small upstart company. Kmart failed to consistently provide value to its customers until WalMart overtook them.

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