For organizations to remain ahead of the competition and relevant requires them to innovate and create a point of differentiation.
Some believe it may be doing something cheaper and undercutting the market through favorable pricing, while others will seek to do more than anyone. These strategies are always beholden to external factors and reliant on the actions of others. We remain relevant while our pricing is lower, but as soon competition changes, we need to react, so we continue to play catch up.
The reality is that most organizations do not know what their secret is. What makes them unique and sets them apart in a crowded marketplace? It is rarely about more, but instead the one thing. While saying you are something does not necessarily imply you are. A check to ensure that what we say is who we are is to understand if we can measure it and compare it.
The organizations that appreciate who they are and their differentiation undoubtedly have an edge in marketing to clients, recruiting talent, and obtaining investment. This however, must be maintained since even those with a competitive advantage may lose it if they no longer pursue their distinctiveness.
What one secret do you have that you continue to exploit to differentiate yourself? It exists, you may not be revealing it.
