Here is a framework I use to help assess and evaluate earlier stage businesses and where their competitive advantage is derived from
Compete x Create x Serve x Capture ⇒ Consumer Value
*Consumer can be replaced with User
🥊 Compete
- ...in a MARKET that has voracious and loyal consumers, is sufficiently large, or both!
- ...for CONSUMERS better than direct (incumbents and new entrants) and indirect (substitutes) competitors
- ...against or with existing consumer BEHAVIORS, preferences, and habits
- ...by taking advantage of emerging INNOVATIONS including technology, social, sustainability
- ...with world-class TALENT, EXPERTISE, and a valuable NETWORK
🎨 Create
- ...compelling and quality CONTENT (visual, audial, and/or experiential) ****that fulfills a need or desire
- ...a genuine and accountable COMMUNITY
- ...differentiated (physical or digital) COMMERCE (products, services, or marketplace) experience
- ...an authentic and unbreakable RELATIONSHIP with the consumer
- ...original, exclusive, and defensible IP
📦 Serve