Category Archives: Strategy

Your competitive advantage: make people happy

competitive advantage comes from making people happy

A key to implementing a kick-ass business strategy is , this is shifts the rules to your advantage.

One of the most important pillars of any great business is making your customer happy. Yet, it seems to me that businesses are only focused on what they want, but not what their customers want. Profit over brand is a ruling mindset! If you find yourself in a market where this is the case, make it your mission to compete by making your customers happy, and make your competition irrelevant.

Your competitors will be trying to figure your strategy out and since they can’t think of making customers happy as a strategy (it’s not logical?), they won’t be able to compete! They’ll think you’re out of your mind.

What is strategy?

mastermind

So many definitions, so much complexity. Nobody really knows what strategy really is.

So, what is strategy?

To me strategy is not pursuing a detailed plan step by step, it is finding or creating options that give me an advantage at any moment.

Let me explain why:

The world is full of people looking for a secret formula to success and power. They don’t want to think on their own; they just want the recipe to follow. For this very reason they are attracted to the idea of strategy.

In their minds strategy is a series of steps to be followed toward a goal. They want these steps spelled out for them by some expert or guru. Believing in the power of imitation, they want to know what others have done before. Their maneuvers in life are as mechanical as their thinking. They are predictable.

The essence of strategy is not to carry out a brilliant plan that proceeds in steps; it is to put yourself in situations where you have more options than everyone else. Instead of going for A as the single right answer, true strategy is positioning yourself to be able to do A, B or C depending on the situation.

Our society values people who have the right answer but in reality there is no single right answer, there are many. At any moment one approach can be better than the other, being aware of this is what separates true strategists from the one’s following a game plan.

Do you agree? What’s your definition of strategy? This is an important topic, let’s get a discussion going!

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Facebook’s business strategy in a nutshell

The Business Insider interviewed Facebook CEO Mark Zuckerberg on his thoughts about Innovation, particularly how he came up with the idea while at Harvard and how he’s been able to get FB to it’s present state of 300 million users in 5 years.

While I don’t think Facebook is good at pure innovation, I think they’re a good at identifying and integrating great ideas from other companies into their product to make it better and ultimately this is all that matters.

Why Brands in Public doesn’t suck…for Seth Godin

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The blogosphere is buzzing after Seth Godin’s announcement of his newest initiative, , which intends on becoming a ‘social signals aggregator’ for BIG brands.

Some Where the Heart Is rip , other’s want to and I actually think this is a good move by Seth.

If it wasn’t him somebody else would’ve figured out a more open approach to aggregating ‘social signals’ for brands and make it completely available for the world to see, this isn’t bad because it promotes openness.

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Guess Who dvdrip Although this seems like extortion to some think about it this way if he asked brands for their input first, which any smart person would do, and they saw some value in it then that’s enough of a good reason for Seth to create Brands in Public and why it’s up.

I don’t think he just created the pages without asking for their ‘permission’ first.

Remember, there is a NEED for this as a BIG brand you can only be in so many places plus $400 bucks is peanuts for them.

The BIG deal is his perceived aggressive approach, which is textbook Microsoft strategy. Brands can choose to buy, if not it’s still open for everyone to see including competitors. Great!

This is good business strategy, it’s not beautiful but it’s good strategy nonetheless.

Another thing that is being overlooked is the fact that if the brand doesn’t want to pay up it still gets to see where the mentions are coming from, it’s basically making some ‘listening’ work easy for them all they have to do is just engage that audience at that specific place.

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Also let’s consider that the internet is in desperate need of a ventures that actually make money from something other than advertising, in that sense this is going to be very interesting.

 

The real question is, does this really create value for the brand?

Although brands can use tools to do this for free, it does make the monitoring a little easier. On that note this could end up just becoming a short term experiment, smart brands (especially the one’s who know him) will happily (read happy) shell out $400 bucks for a few months to see how it works out for them.

Guess we’ll just have to wait and hear from the brands themselves.

 

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If you’re a brand manager at one of these BIG brands I’d love to hear your thoughts.

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What a cave diver can teach us about leapfrogging the competition

 

I was looking at some very last week and one in particular caught my attention not because of the picture itself but because of the story behind it:

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The diver in this photo has descended about 20 feet into the opening of Devil’s Eye Spring. Without carrying breathing gas, free divers can usually swim down only about 40 to 45 feet, but Heinerth says that a few brave souls venture further. “In Russia, I met a guy who they nicknamed ‘Aqua Man,’” she said. “In water temperature just above freezing, Aqua Man would put on a wetsuit, enter the cave, and swim a couple of hundred feet before surfacing to sip from an air pocket on the ceiling of the cave. Then he’d free dive even further in, eventually getting 300 feet into the cave with no air. He was free diving by leap-frogging from air pocket to air pocket inside the cave.” Sister Act 2: Back in the Habit

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Obviously there’s no such thing as Aqua Man but clearly this person is called such for the feat he accomplishes. Any skilled diver can stay underwater longer by swimming from air pocket to air pocket, but because of the uncertainty of the unknown (as well as the chill) nobody is likely to try it in a cave.

What separates Aqua Man from the rest is his mental preparation. How do I know this?

Because Aqua Man has the same abilities that the other divers have, mainly to be a competent swimmer and have great control of respiration.

The ability to stay underwater and dive to depths both you and I can’t go isn’t a talent. It’s preparing your body, your mind through constant practice and then being curious as to what he might find inside the cave,

What the other divers overlooked was that there might be air pockets inside the cave. They just couldn’t see beyond their own fear!

 

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Key takeaway: You don’t leapfrogg the competition by beating them at their own game, . Sometimes what they ‘can’t do’ is a fear and most of the time it’s something they’re overlooking. Exploit it!

BOOK: Business model design for game changers

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business model generation

Are you constantly thinking about how to create value and build new businesses?

If your answer is yes then you’re like me and talk about business models in your sleep!

I was directed to a than can help us do just that!

Written by , , is a book written for people who want to design a better and different way to do business, in other words business model innovation.

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Although it doesn’t come out until a few weeks, I thought I’d give you guys a heads up and make sure you and read the 72 page preview of the book.

If you don’t know anything or just don’t understand what business models are, the downloadable book preview does a good job of explaining the basics of Business Model design such as the business model canvas which is a BIG picture view of your business seen through the eyes of a strategist.

If you’ve read , you’ll know this is going to be a great book!

Thanks to for pointing out the book!

An attempt to discover my social media workflow

the conversation prism

The Conversation Prism by Brian Solis and Jesse Thomas

I’m writing this at the request of my friend Jaime Valdovino who is just starting to get his head around this whole ‘social media stuff’ and asked me if I could provide some suggestions on how he could use social media tools more efficiently.

 

How do we keep up with so much information? We don’t.

The problem with trying to keep up is we instinctively think we have to be in all places so we don’t miss an opportunity. The truth is we have to accept we can’t be everywhere and we shouldn’t try. So what’s the solution? Be strategic.

Apply the 80/20 rule by asking yourself “what’s important for me?” and whatever tool answers that question, invest your time in it. For e.g. You may want to drive paid traffic to your website,  so you can use someone like Traffic masters. There really isn’t a secret formula out there on how to make these tools work for you, it’s more of creating your own formula to satisfy your needs and evolving it as you go.

Here then are the tools I use to keep up:

* I found this great example of a social media flow framework (with graphics) that resembles my own that’s very useful.

MANAGING

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  • Twhirl (to be replaced by Seesmic Desktop). I use it as my default Twitter client because it’s more light than Tweetdeck. I also like it because it has Friendfeed integration and because you can manage multiple Twitter accounts.
  • Evernote

    . it’s the bedrock of my formula. You can take notes, clip information, pictures, audio, documents.

  • Feedly. Google Reader on steroids, it has Twitter and Friendfeed integration. An added bonus is you can share stuff from any page through the mini bar that sits at the bottom right corner of Firefox.
  • Alltop. Google reader alternative for lite users. If consuming information in Google reader overwhelms you, come over to Alltop. Guy Kawazaki does a great job of adding new content and it’s always easy to find new stuff because of it categorized nature.
  • Popurls. The original aggregator has popular information from all over the web.
  • YouTube. I Don’t really post any content to YouTube but do favorite lots of videos.
  • Digg. I Don’t actively participate here anymore, I use it more to search for edgy stuff such as the most digged content.
  • Newsletters. there are some newsletters worth reading that help you make sense of things.
BOOKMARKING

  • Delicious. Have been using since it was created, it’s really become a habit.
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  • Stumbleupon. very powerful tool, if used correctly can deliver tons of targeted traffic and more importantly it’s sustainable.
  • Twitterfeed. Pushes your blog/wesbites feeds to your Twitter account automatically.
  • Posterous. Just recently started using this when I got the Palm Pre, I found it’s a good tool to post thoughts. Can see myself using this one more as a thinking man’s notebook more than anything else. Stay tuned…
SHARING

  • ShareThis. easily share anything from Firefox, I use to share through email.
  • Shareaholic. swiss army sharing tool, great integration with every service you can imagine.

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NETWORKING

  • Linkedin.
  • Facebook.
  • Twitter.
TRACKING

  • BackType. great tool to find, follow and share comments.
  • Friendfeed. best real-time search engine and an added bonus is you can save your searches.
  • Tweetscan. Still valuable, much better than Twitter’s search engine.
  • Tweetmeme

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    . Tweet search engine, most popular links on Twitter.

  • Oneriot. real-time web search engine.
  • Twitter search. see what’s happening now on Twitter.

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As far as URL shorteners go I use su.pr, it gives me traffic details as well as letting me schedule posts. But what’s different about it is it’s integrated into Stumbleupon so you get the added benefit that your posts are automatically stumbled.

Here’s a detailed analysis of URL shorteners.

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Making sense is more important

You can keep up with all the information you want but if you can’t extract insight from it you’ll be standing in the same place. One of the keys to being efficient is setting goals, my goal is to gain insight out of the information I consume (blog posts, articles, comments, discussions, etc) from different sources and so that drives my behavior; Friendfeed and Evernote make that really easy.

A while back I wrote about how I use Evernote to keep me organized, although the formula has evolved it still helps me make sense of information.

Anything I clip with Evernote’s web clipper is sent to the ToRead notebook which I come back to later in the day (usually at night) and read through the notes, highlight what’s important, add some thoughts and send it to the WeeklyNotes notebook.

At the end of the week I discuss these notes with my team to trigger ideas, if any insights come out of it they are stored in our Socialtext wiki.

I encourage you to create a group in Friendfeed, invite colleagues or friends and start adding stuff you find to it. This will become sort of like an intranet for your team to discuss on your findings, at the end of the week you can come back to the important items and discuss them at your team meeting to trigger ideas. This is more efficient than sharing links with colleagues through email.

friendfeed

The easiest way to add link to a group is using the Friendfeed bookmarklet which is included with shareaholic.

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Even more effective is the fact that all of these tools are easily accessible in Firefox by installing the individual plugins.

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Feedly mini toolbar viewable in the bottom right corner in Firefox gives you the capability to quickly share stuff to Google Reader, Friendfeed and Twitter.

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Firefox toolbar with easy access to delicious, evernote, sharethis, shareaholic, stumbleupon and feedly.

evernote

Information clipped from Firefox to Evernote goes to the ToRead notebook where I can easily filter to help me make sense of it.

Jaime I hope you find this helpful and thanks for suggesting I write this, writing down this process has been a very interesting experience to say the least. I will keep refining this and will come up with something less complicated!

Readers, what tactics do you use to keep up? Fire away in the comments!