Inspired by Alessio CONERDI of Schneider Electric https://www.linkedin.com/pulse/crazy-quest-superior-profitability-alessio-conerdi
Operational Efficiency is key - but that should just gives you a seat at the table!!
Being really good at what you do and operationally effective (OE) should be a given in any business.
If you design, produce and sell your products and services more efficiently than your competitors, you can reap big advantages.
But the problem with OE is that it can be easily emulated. Sooner or later your rivals will catch you up with that, leading to price wars and to zero-sum competition... and this competition will be mutually destructive!
To position your business strategically in your industry you need more than just being "the best", you need to be unique!
What is your sustainable competitive advantage?What is distinctive and unique about your company?
What are you doing different from your competition?
Some questions to ask... (thanks to Brian Sher of the Fortune Institute)
- what is preventing customers to deal with you?
- What are their fears?
- What is their pain point?
If you can answer these questions - it could go a long way to creating your USP!
So if your business isn't giving you the strong return on investment you were hoping to get, maybe it's time to rethink about your strategy and what your company does that is uniquely valued by customers.
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