Innovate – Innovate – Innovate
- Poor companies ignore their competitors, companies of little value copy their competitors, winning companies map the path for their competitors.
The real lasting competitive advantage lies in the ability to continuously innovate. Success is found in being different and recurring success is found in being different in a recurring way.
One cannot live off inert competitive advantages. Everything has an expiration date and the validity periods are getting shorter and shorter.
Self-indulgence, complacency, and routine lead to disappearance. In other words: whoever always offers the same and in the same road ends up failing to do so.
The ability to learn continuously and to be young all your life is essential to compete.
- “If you try to serve everything to everyone, you will not be able to earn a competitive advantage. All good strategies create unhappy customers. Why? Because they only serve a group of customers.” Michael Porter
There is nothing more important than trying to please everyone. Defining your target assumes that part of the audience will be dissatisfied, whether due to quality, price, attention or whatever.
Positioning yourself implies not pleasing a few, those whose value proposition does not seem interesting.
But there is no problem: it is the logical result of positioning. Positioning yourself presumes saying no to many things.
You cannot be everything: fast, cheap, and big. The worst is being different. Being in all ponds is not profitable.
- About 75% of companies have a lack of strategy and are limited to copying.
We are all very innovative in our speeches, but we are also very bureaucrats in our behaviour.
Although everyone praises the benefits of differentiation, there are few who can really differentiate afterwards.
First because it is necessary to look for and work with differentiation, second, because differentiating implies taking risks, and third, because it is necessary to be able to renew differentiation (almost everything is copied too quickly) and this requires effort and consistency.
Steve Jobs said: “Continuing to innovate for years requires a lot of discipline.”