We believe you can understand competitive advantage, and how to achieve it (or cede it) in four simple statements:
- Competitive advantage goes to the risk takers … to those who pioneer new management techniques/approaches. That can include new processes, new business models etc. The outcome of these new approaches must, ultimately, offer value to the marketplace or there are not useful. But it is about you manage your business and its processes that gives you a competitive advantage that is sustainable.
- Initial implementations of new management techniques are always sub-optimal. Trying to be efficient before you are effective can destroy new approaches and processes.
- Gaining competitive advantage is always painful. Nobody and no company is truly an “overnight” success.
- Winners in the marketplace are always a generation or more ahead with their management systems and processes … and the losers are a generation or more behind.
It’s really just this easy … and just this tough.
Mitch & Ralph