I spent this week looking at hundreds of companies and found that there are seven common ways to differentiate:1. Be the cheapest2. Be the highest quality3. Be the most convenient4. Be the safest5. Sell a proprietary product6. Sell something that makes people feel great buying 7. Focus on a niche underserved market
Jim Collins...shares a different approach for identifying your wheel...for larger corporations:
1. Create a list of significant replicable successes your company has achieved 2. Compile a list of failures and disappointments 3. Compare the successes to the disappointments and ask, “What do these successes and disappointments tell us about the possib... See more