Sustainable Sources of Competitive Advantage

A great article from Collaborative Fund about 5 sustainable sources of competitive advantage.  My favorite was number 2 – Eat Your Own Dog Food.

Forty-seven percent of mutual fund mangers do not personally own any of their own fund, according to Morningstar. That’s shocking. But I suspect something similar happens across most businesses.

What percentage of McDonald’s executives frequent their own restaurant as a legitimate customer interested in the chain’s food, rather than a fact-finding mission? Few, I imagine. How many times has the CEO of Delta Airlines been bumped from a flight, or had his bags lost by the airline? Never, I assume.

The inability to understand how your customers experience your product almost guarantees an eventual drift between the problems a business tries to solve and the problems customers need solved. Here again, a person with a lower IQ who can empathize with customers will almost always beat someone with a higher IQ who can’t put themselves in customers’ shoes.

Innovation Strategy Presentation

I would be excited to facilitate a innovation workshop for your team or organization.  The material can be customized around your industry and challenges.  We will work together to explore multiple innovation techniques and add them to your strategy toolbox:

  • The subtraction technique
  • Big unsolved problems
  • Disruptive innovation

Check out my Innovation Strategy Deck and feel free to send any questions or requests to public@jayfisher.info