UPLOAD: Q03
Question 03 defines your competitive advantage as it stands today (it may include some upcoming advantages, depending on your development cycle, but be careful not…
Q03 vPlano: CONSISTENCY ⇒ CREDIBILITY
Consistency ⇒ Credibility The benefits (lights) that you choose to highlight your competitive advantage (Question 03: Why will you win?) need to be consistent with…
Ex 03.4: Design a draft slide
Use the benefits and competitors you have compiled in your matrix to frame your elevator pitch for Question 03. Acknowledge your competition and never criticize…
Ex 03.3: Do the matrix!
I have just a few tools that I use for virtually every client. The competitive advantage matrix is one of them. Even if you don’t…
Ex 03.2: Identify your spectrum of competitors
Just as you can get overly focused on specific features of your innovation when describing your competitive advantage, you can also be so focused on…
Ex 03.1: Address your competitive advantage in terms of benefits, not features
The single most common error people make when pitching their competitive advantage is in trying to make their case based on technical details that are…
Assess the full competition spectrum
Another common missed opportunity is to focus on just the competitors of which you are the most aware. Validating your competitive advantage requires that you…
“We have no competition!”
Another common mistake is to think that stating that you have no competition will increase Greed or reduce Fear in your audience. In fact, the…
Benefits, not features
Most entrepreneurs know exactly which features of their innovation enable them to compete against the market leaders, but few of them articulate clearly to their…
Q03 vPlano: BUSINESS CONTEXT
Know your “enemy” It is not enough to build a great solution to a problem. You also need to know who else has adequate solutions.…