As my first post, I think it only makes sense to talk about a topic that should be the first question every organization asks itself – what makes us different?
What is it that separates you from the crowd and helps you drive more profitability and growth? Afterall, being different in a way that doesn’t drive the bottom line won’t pay your bills. So, what is your big difference?
I’ve recently developed an acronym that helps me identify which of the many strengths a company possess should be the one(s) focused on to drive competitive advantage. In other words, it answers the question of what is your company’s difference by saying it must be B.I.G. :
B = Brings value to your prospects and customers, as determined by them, and brings value to your company in the form of profits. How many times have I sat through meetings where colleagues have arbitrarily identified things they think their customer wants without really knowing for sure. And how many competitive advantages actually drive profitability based on the existing business model? Whatever your company’s “BIG Diff” is, it must hold value for your market and for you.
I = Integrated into your operations to ensure it’s lived everywhere and offered to your customers and prospects at every touch point, making it sustainable over the long term. Your “BIG Diff” can’t just be your latest marketing campaign that’s fun and creative but has no bearing on how you actually run your organization – that’s easily copied. It must be woven throughout your organization at every point as that is what will ensure it’s effectively delivered. Plus, the act of integration throughout the business makes it that much more difficult to copy.
G = Gets noticed and is provable. If your difference isn’t noticed, it doesn’t matter. And, if you can’t prove that it exists, or at least that you’re trying to create it, no one will believe it. It must get noticed and be provable to be considered your “BIG Diff”.
And that’s it. In order for your competitive difference to be considered the one that your company should focus on to drive bottom-line results, i.e., your “BIG Diff”, it must be valuable to your marketd, be able to be integrated into your operations, and noticeable and provable.
Start by answering that question and you’re on your way to making your dreams grow more profitable.